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2019/08/09 / Erste Group Research

Week ahead | Elections in Italy, tensions on FX markets

Lega leader Salvini's doubts about the continued existence of the governing coalition were followed by Prime Minister Conte's announcement that he would convene parliament next week to ask for a vote of confidence. Early elections have therefore become very likely in Italy. President Mattarella has already expressed his preference for a date in October.

This week began turbulently, with the yuan weakening against the dollar. The movement itself was not strong. However, for the first time since 2008, the dollar crossed seven yuan, which was seen as a sign by the markets. The Chinese central bank denied any instrumentalization of the exchange rate. However, this did not convince the markets. Rather, the markets saw the weakening of the yuan as a warning shot from the Chinese side and a worsening of the trade conflict, which it was.


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General information

AuthorErste Group Research
Date2019/08/09
Languageen
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-
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