It’s Italy’s Turn to Create Political Turmoil

There’s an acrimonious campaign, a vote and then a cliff-hanger result. The routine is all too familiar for bond and currency traders.

After the shock of Britain’s Brexit referendum and Donald Trump’s U.S. presidential election victory, trading desks are readying for another sleepless night on Dec. 4 as they await the outcome of a ballot that again has the potential to disturb the political order. This time it’s in Italy, where a vote on curtailing the power of the Senate has turned into a judgment on Prime Minister Matteo Renzi’s leadership and the latest potential banana skin for investors.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.