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Friday, November 25, 2016

Fear Of `No Vote' For Italian Referendum Next Week Could Bring Fear Into The Market Next Week

Constitutional reform vote on Italian referendum due to be held on 4 Dec could bring renew anxiety and uncertainty into European market next week.

Italian Prime Minister Matteo Renzi is at risk of losing judging from  final polls published last Friday before blackout period. Renzi has pledged to step down and  if he does not win and the concern is that he will be forced to call a general election which could be won by anti-euro “populists” who could threatened another “Brexit”. As 4 Dec draws nearer next week, market will take a risk off approach, selling into the current rally. Euro dollar , Dax and European market could faced a selloff when it becomes clearer that Renzi will be losing. Gold could shine again!

All posts and charts are for educational and illustration purposes only

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