Spain Budget Failure Fuels Snap Election With Catalan Parties Protest

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  • #19840
    TradersCom
    Keymaster

    Spanish PM Pedro Sanchez has called a cabinet…

    [article]1361[/article]

    #19843
    KnovaWave
    Participant

    The bearish news keeps coming at the opportune time for EURUSD to breakdown in this tight range – the size of the shorts and EURGBP limiting it at this point. Is all the bad news out there? This was not unexpected on Spain with the Catalan trial for instance,

    #19861
    Helmholtz Watson
    Participant

    Prime Minister Pedro Sanchez has called snap elections for April 28

    At this time opinion polls show no single party would win enough votes to govern. Coalition scenarios point to lengthy negotiations between various parties, potentially including the far-right Vox.

    No fear despite Italy overhang, Spanish bonds and equities have not reacted to the news. With 2-1/2 months to go, the reaction will depend on market sentiment one would think.

    Spain has had three years without a majority government have hindered progress on reform however it has a growing economy. When investors fled Italy last year, Spain was the destination of choice. So here we go again at some point?

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