Пад евра се наставља с обзиром да се Италија суочава са новим изборним ризицима

Euro is back under broad based selling pressure after an ex-IMF official accepted the mandate to form an interim government. While traders were relieved that the anti-establishment eurosceptic coalition government couldn’t be formed, they’re now facing uncertainty of a new election. EUR/USD has already broken last week’s low at 1.1643 to resume recent downside. 1.16 handle will likely be broken soon. EUR/JPY also followed and broke 127.14 temporary low.

Elsewhere in the currency markets, Canadian Dollar follows Euro and Swiss Franc as the weakest one. WTI crude oil is extending recent fall and hits as low as 65.80 so far today. New Zealand Dollar, Australian Dollar and Sterling are the better performing ones as no news is good news.

German-Italian yield spread widens again as ex-IMF official takes mandate to form interim government

- реклама -

Euro’s rebound today was rather short lived. It’s based on relief that the anti-establish, eurosceptic coalition government of the 5 Start Movement and the League couldn’t be formed. But then the common currency is back under pressure as investors remember that Italy will now likely head to another election. That sentiment is also clearly reflected in widening of German-Italy yield spread again. German 10 year yield bund once jumped to 0.463 earlier today but it’s down at 0.358, down -0.048. Italy 10 year government bond yield dropped to 2.35 earlier today but it’s now at 2.664, up 0.112.

In swift arrangements, former IMF Director of the Fiscal Affairs Carlo Cottarelli accepted Italian President Sergio Mattarella’s appointment to form an interim government. That came after Giuseppe Conte abandoned the effort to form a new coalition government of the 5-Star Movement and the League, following Mattarella’s veto of eurosceptic Paolo Savona as the as economy minister.

The Prime Minister designate Cottarelli said that “I’ll present myself to parliament with a program which – if it wins the backing of parliament – would include the approval of the 2019 budget. Then parliament would be dissolved with elections at the beginning of 2019.” Or, “in the absence of (parliament’s) confidence, the government would resign immediately and its main function would be the management of ordinary affairs until elections are held after the month of August.”

Based on responses from political parties, the next elections will likely be held in August.

South Korean Moon: Meeting with Kim Jong-un was easy like a casual meeting

South Korean President Moon Jae-in said in a meeting with senior secretaries that the meeting with North Korean leader Kim Jong-un on Saturday was “just like a casual meeting” and that’s “more important than anything”. He added that “leaders easily got in contact, easily made an appointment and easily met to discuss urgent matters, without complicated procedures and formalities, just like a casual meeting.”

Moon also noted that the Saturday meeting was organized on short notice after Kim’s request. And that could be a model for further contact between the two Koreas. He noted “if we could hold working-level, back-to-back talks on both sides of Panmunjom if urgently necessary in addition to formal summits, it would expedite faster advancement of inter-Korean relations.”

After Moon’s effort to revive the Kim-Trump summit, US officials are now in North Korea for the details. It’s reported that Sung Kim, the former US ambassador to South Korea, was leading the American delegation to meet North Korean officials. Sung Kim was hailed by a former senior South Korean official as ” capable, level-headed, cautious, and has solid grasp of the issues and knows North Koreans well.” At the same time, Sung Kim has “healthy scepticism”.

Абе да каже Трампу да су јапански произвођачи аутомобила дали огроман допринос америчкој економији

Јапански премијер Шинзо Абе упитан је данас у парламенту о Трамповој намери да уведе царине на увоз аутомобила користећи националну безбедност као изговор. Абе је рекао да ће настојати да убеди Трампа да су јапански произвођачи аутомобила важни у јачању америчке економије.

Напоменуо је да су јапански произвођачи аутомобила „отворили радна места и дали огроман допринос америчкој економији“. И додао је да је број аутомобила које јапански произвођачи аутомобила производе у САД двоструко већи од броја који извозе у земљу.

И нагласио је да „као земља која даје приоритет мултилатералном трговинском систему заснованом на правилима, Јапан верује да сви кораци предузети у трговини морају бити у складу са правилима Светске трговинске организације“.

Одвојено је додао да је „Јапан објаснио Сједињеним Државама свој став да је ТПП најбољи формат за обе земље. Наставићемо да разговарамо са Сједињеним Државама на основу овог гледишта.”

ЕУР / ЈПИ Мид-Даи Оутлоок

Даили Пивотс: (СКСНУМКС) КСНУМКС; (П) КСНУМКС; (РКСНУМКС) КСНУМКС; Више….

EUR/JPY’s decline resumed after brief recovery and intraday bias is back on the downside. Current fall should now target 126.61 medium term fibonacci level. Based on current momentum, EUR/JPY will likely dive through this level to 100% projection of 137.49 to 128.94 from 133.47 at 124.92. On the upside, above 128.52 minor resistance will turn intraday bias neutral again. But after all, near term outlook will remain bearish as long as 129.22 support turned resistance holds and further fall is expected ahead.

У широј слици, медвеђа дивергенција у дневном МАЦД-у и тренутни снажан долазни моментум повећавају шансу за преокрет средњорочног тренда. Континуирано пробијање од 38.2% од 109.03 до 137.49 на 126.61 ће тврдити да је цео тренд раста од 109.03 већ завршен на 137.49. И, дубљи пад би се видео до 61.8% ретрацемента на 119.90 и испод. Мада, снажна подршка од 126.61 и опоравак одатле би оживели средњорочни биковски за још један висок изнад 137.49.

Ажурирање економских индикатора