Italy headed «for serious political gridlock»

Some of the headlines crossing on result from the (perhaps unreliable) exit polls on the election

  • Italy is headed for serious political gridlock
  • Hung parliament
  • Hung Parliament, Gridlock
  • Italy election seen producing no outright winner

Got the idea?
Much government formation wrangling ahead … 
If you’ve been following along none of this is news:

  • Italy election … OMG! (not) … And so EUR/USD makes a new high for the day
  • Italy election exit polls coming through now — point to a hung parliament
  • Heads up for some news on the Italian election — due at the top of the hour
  • Italian election update
  • It’s all about the Italian election. What to watch for

The risk for the euro is 5 Star and Northern League getting together and making noise about Italy leaving the euro ….EUR/USD had opened a little stronger in early NZ and into early Australia, the political news out of Germany was favourable over the weekend:

  • German SPD confirms that members voted in favour of coalition deal

Some of the earlier … complaceny ???? …. is wearing off now though, EUR/USD back towards lows 

Note, of course, this is the 5 minute chart …. taking a step back the range has been small this morning to open the week. 

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