Trial now
USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

ITALY

Wires and social media reporting that lawmakers from the centre-left Democratic Party, the junior partner in the governing coalition, have called for PM Giuseppe Conte to resign, adding that they will support him to lead the next gov't.

  • The lawmakers say that as things stand, Conte does not have enough support in parliament to get the Justice Report through.
  • The vote on the annual report on the justice system set to take place later this week in the Senate. Defeat would effectively end the gov't. An early resignation might give Conte more time to try to put together a broad majority gov't.
  • Dial seemed to be moving towards snap election last week, but clearly there are major efforts to find a new majority among governing parties and others in parliament.
  • Should note that due to constitutional changes, if an election is called the number of parliamentarians is set to be cut significantly, meaning many lawmakers will lose their seats even if their party does well. This may discourage some from seeking to bring the gov't down.
MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com