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Forex Flash: Italian election captures weekend spotlight – Deutsche Bank

The marquee event this weekend will be the Italian elections – voting runs from Sunday to Monday at 14:00 (GMT), with early exit polls coming out soon after. The key numbers to look out for will be how the parties stack up towards the 158 seats needed for a majority in the Senate. Since the last polls were published on February 8, there are some unconfirmed reports that suggest the centre-right's momentum seems to have tailed off somewhat, with reports that the populist Five Star Movement has apparently been gaining ground.

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Our view on the post-election government continues to be a PD-led centre-left coalition with Monti's centre; however recent trends have increased the risk of a hung parliament and all the uncertainty that will bring.”

European markets strong on German IFO despite EU Commission trimmed forecasts

The German DAX 30 (+1.13%), the French CAC 40 (+1.84%), the Italian FTSE MIB (+1.29%) and the Spanish IBEX 35 (+1.59%) are stronger on Friday, like all European equity indexes, despite some cuts in the growth forecast of key countries, such as Germany and France, in the European Commission report.
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Forex: GBP/USD consolidates below 1.5300

The sterling remains sidelined below the key resistance at 1.5300 on Friday, as the lack of direction is prevailing in the global markets so far...
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