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EUR/USD trades flat at $1.1091 after....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD trades flat at $1.1091 after slipping 12 pips yesterday.
Bears eye Friday's low of $1.1052, bulls target the 21-DMA at $1.1130.
- Italy's 5 Star Movement & Democratic Party worked against the clock yesterday,
trying to overcome divisions on a common programme & personal matters and reach
a coalition accord. 5 Star leader Di Maio wrote late doors that the new gov't
proposal will be put to an online vote by party members by next week. Ansa
reported that delegations from both parties will meet again on Weds morning.
President Mattarella is holding consultations with party leaders on Tues & Weds,
after which he will decide whether to call a snap election. 
- ECB Vice Pres de Guindos said that the Bank should take market exp. "with a
pinch of salt," given the "echo chamber effect & inherent noisiness of signals."
- A UK off'l told BBG that French Pres Macron & German Cll'r Merkel seemed to
have relaxed their language on the Brexit deal & the Irish backstop.
- Italian consumer & m'fing confidence hit today. Later in the week, focus turns
to CPI data from Italy & Germany (Thursday), as well as the EZ & France
(Friday). Final French GDP is due on Thursday & ECB's Rehn speaks on Friday.

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