Euro Remains Under Pressure Over Rising Political Uncertainties in Italy

Rising uncertainties surround trade tensions, Brexit, political tensions, and economic growth continue to exert downward pressure on the EUR

Arslan Butt•Monday, August 12, 2019•1 min read

Rising uncertainties surround trade tensions, Brexit, political tensions, and economic growth continue to exert downward pressure on the Euro into the fresh trading week. At the time of writing, EUR/USD is trading at around 1.12.

Last week, the Italian Deputy PM Matteo Salvini filed a no-confidence motion against his own coalition partner and called for snap elections in the country. Salvini is keen on going to polls as soon as October in order to become the new leader of the government.

The Euro, which has been trading under pressure over increasing concerns of economic slowdown amid trade tensions, fell even lower on this news last week. Italy is Eurozone’s third largest economy and political uncertainties in the country weigh heavily on the overall Eurozone economy and its currency as well.

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.