Election in Italy – Will it be Italyexit?

The European Union is more relax after Angela Merkel achieves to make a mix government with SPD. However, it was an election in Italy on Sunday. Italy is the third biggest economic in European Union so the new government will be able to affect EU economic. The result of the election may not have any parties get more than 40% so it will be Coalition. It may take a few weeks to decide the way of new government. What people are focusing? Everyone focuses on “possibility of Italyexit.” If there will be the possibility that new government will reach this topic, European market may swing.
Early morning today, Aussie dollar may hold steady waiting for RBA interest rate decision which forecast unchanged and interest statement at 10.30 a.m. which will express the current economic and monetary. However, I think Aussie dollar and stock market may get good support from retail sales in January at 07.30 a.m. which predicts higher. If AUD/USD can rise above 0.7800 points, it may rise to 0.7950 points. I also suggest listening speech of FORMC voting member Dudley at 19.30 p.m. to find the signal of rising interest rate at the Fed meeting by the end of March. Moreover, USD/CAD may not break the resistance at 1.2900 points, if Ivey PMI of Canada at 22.00 is higher than expected at 56.3.
TechCrunch founded by Michael Arrington announced last November that he was raising $100 million for a hedge fund called “Arrington XRP Capital”. Arrington confirmed the subpoena, which comes amid what is rumored to be a widening investigation into initial coin offerings (ICOs) by the U.S. securities regulator. I think this year many countries may consider about rules for cryptocurrencies and investment more clear.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

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