{"id":25051,"date":"2011-11-08T04:21:40","date_gmt":"2011-11-08T09:21:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/11\/08\/italian-parliamentary-vote-could-boost-eur\/"},"modified":"2011-11-08T04:21:40","modified_gmt":"2011-11-08T09:21:40","slug":"italian-parliamentary-vote-could-boost-eur","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/11\/08\/italian-parliamentary-vote-could-boost-eur\/","title":{"rendered":"Italian Parliamentary Vote Could Boost EUR"},"content":{"rendered":"<p><strong>Source: <a href=\"http:\/\/www.forexyard.com\/landsys\/general_static\/en\/?pid=545&#038;mid=888&#038;cid=15844&#038;zid=15873\" target=\"_blank\">ForexYard<\/a><\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\" alt=\"printprofile\" \/><\/p>\n<p>A vote today in the Italian Parliament at 14:30 GMT may hold the key to Berlusconi\u2019s future as Italian Prime Minister. If today\u2019s events play out anything like <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/11\/07\/political-rumors-fly-and-eur-bounces-from-daily-low\/\">yesterday\u2019s rumor<\/a> of his impending resignation then the ouster or Berlusconi could be EUR positive.<\/p>\n<p><span><\/span>Today\u2019s<a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970204554204577025130111387826.html?mod=europe_home\"> budget vote<\/a> may signal Berlusconi has lost his governing majority and a no confidence vote would likely follow to remove the Italian Prime Minister from office. Berlusconi is a survivor and has faced no confidence votes the past. <\/p>\n<p>But both political and economic pressures are building. Recently his party members have been abandoning him with others publicly calling for the resignation of the PM. Pressure continues to be felt in the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/11\/04\/weekly-fx-fundamental-preview-italy-is-the-key\/\">Italian debt markets<\/a> with the yield on the Italian 10-year BTP rising to an EMU high of 6.67%. <\/p>\n<p>Traders may remember the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/11\/07\/political-rumors-fly-and-eur-bounces-from-daily-low\/\">price action from yesterday<\/a> with the EUR\/USD climbing 60 pips on a rumor Berlusconi would be tendering his resignation. Those rumors proved to be false and the EUR\/USD quickly surrendered those gains. The pair has been testing the falling resistance line off of the October high which comes in today at 1.3780. Additional resistance is found at the 20-day moving average at 1.3840 and last week\u2019s high of 1.3870. Support is located at 1.3700 from the bottom of the narrowing range that has formed since the beginning of the month.<\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n<p><strong><a href=\"http:\/\/www.forexyard.com\/landsys\/general_static\/en\/?pid=545&#038;mid=888&#038;cid=15844&#038;zid=15873\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: ForexYard A vote today in the Italian Parliament at 14:30 GMT may hold the key to Berlusconi\u2019s future as Italian Prime Minister. If today\u2019s events play out anything like yesterday\u2019s rumor of his impending resignation then the ouster or Berlusconi could be EUR positive. Today\u2019s budget vote may signal Berlusconi has lost his governing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/11\/08\/italian-parliamentary-vote-could-boost-eur\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Italian Parliamentary Vote Could Boost EUR&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-25051","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=25051"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25051\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=25051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=25051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=25051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}