News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • - Biden-Trump betting odds continue to show Biden way ahead of the incumbent - Investors should not get complacent – there is precedent for an unexpected win - Gold price decline may accelerate after XAU/USD broke a multi-week uptrend https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/10/28/Gold-Selloff-to-Accelerate-With-Less-Than-a-Week-Until-Election-Day.html
  • GBP/USD looks likely to continue to trade around the 1.30 level as the talks between the EU and the UK on their future trade relationship continue. Get your GBP/USD market update here:https://t.co/RwiU3esd2q https://t.co/8OnddX6Tbb
  • Wall Street Futures Update: Dow Jones (+0.451%) S&P 500 (+0.498%) Nasdaq 100 (+0.530%) [delayed] -BBG
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? EUR/USD may fall as AUD/USD rises. Which way could USD/CAD capitulate? Find out from @ddubrovskyFX here:https://t.co/BVoIcR9anM https://t.co/QMJsW54Ijr
  • Read this now⬇️ https://t.co/FdPt6fBbYD
  • With #Election2020 around the corner, could stock markets predict the outcome? As of today, the #DowJones and #SP500 averaged: +1.86% a year before the election -1.79% 3 months before the vote Historically, what may this mean for the incumbent/Trump? - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/10/28/SP-500-Dow-Jones-Can-Stock-Markets-Predict-Presidential-Elections.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/k9jdS7adQJ
  • Poll: Is this break from the Dow, $SPX, global indices, crude oil, carry trade, etc 'the' break in risk trends. In other words, is this start of a productive bear that brings us into official 'bear trend' territory (-20% from highs)?
  • RT @FxWestwater: S&P 500 Price Forecast: Options Traders Hedge Bets as #VIX Soars - via @DailyFX $SPX $VIX https://www.dailyfx.com/forex/market_alert/2020/10/28/SP-500-Price-Forecast-Options-Traders-Hedge-Bets-as-VIX-Soars.html ht…
  • Probably a lot of bulls out there consulting the technical candlesticks books hoping for a bullish belt hold reversal from the $SPX. Key tenant of that 'pattern' is that you shouldn't take the single candle in isolation. https://t.co/T232cOPHkK
  • The Nasdaq 100 is battling soaring covid cases, election uncertainty and earnings season, but lockdowns in Europe likely sparked Wednesday’s decline. Get your #Nasdaq market update from @PeterHanksFX here:https://t.co/U1s6ccvTcI https://t.co/6mKYToiEVg
Anti-EU Sentiment in Brexit to Hang Over Weekend Spanish Election

Anti-EU Sentiment in Brexit to Hang Over Weekend Spanish Election

2016-06-25 04:43:00
Daniel Dubrovsky, Analyst
Share:

Talking Points

  • Spain will be conducting its second general election in six months over the weekend
  • The Podemos party is viewed as a EU stability threat for its anti-austerity campaign
  • The Brexit vote could give more support for eurosceptic parties

Having trouble trading in such volatile market conditions? This may be why.

In December 2015, Spain conducted a general election. The outcome saw the People’s Party (PP) lose its majority and subsequently slow political progress. Prime Minister Rajoy’s campaign failed to secure the 176 seat threshold needed for a ruling majority in the 350-member parliament. In addition to the Euro gapping lower across the board following the results, Spain’s parliament was left fragmented and a new election was called to be held on Sunday the 26th, 2016.

The timing of this event so happens to fall in the aftermath of a United Kingdom referendum vote in which the country decided to leave the European Union. This is the first member to ever leave the European Union since its inception, though last year’s “Grexit” situation - in which the anti-austerity Syriza party rose to power in Greece and nearly fulfilled its campaign to quit the EU - came close. Since then, there has been a rise in Eurosceptic sentiment within Spain and throughout Europe.

Known as Podemos, the left-wing political party considers its mission is to address economic malaise by renegotiating austerity measures. In December, Podemos ended up with 69 electoral seats in parliament while the People’s Party had 123. Leading up to this year’s election, the anti-EU party merged with several other factions forming the Unidos Podemos alliance. According to The Economist, Podemos will overtake the Socialist party to become the main force on the Spanish left if polls are correct.

Now that the United Kingdom has taken its first step in breaking away from the European Union, concern will build that more anti-EU campaigns will gain traction. As Currency Strategist Ilya Spivak pointed out, Brexit’s success may embolden Eurosceptic forces elsewhere such as in Spain and France. Much like last time, the rising threat of a leftist coalition in Spain could lead to further austerity uncertainties down the road for the EU’s now fourth largest economy (fifth if the outgoing U.K. were included).

Anti-EU Sentiment in Brexit to Hang Over Weekend Spanish Election

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES