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US AM Digest: Italian Election Results, NAFTA Negotiations in Focus

US AM Digest: Italian Election Results, NAFTA Negotiations in Focus

2018-03-05 14:29:00
DailyFX Research,
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After gapping lower to start the week, the Euro has recovered most of its losses as the Italian election results have come down the pipeline. With no party achieving the necessary 40%s threshold in the lower chamber to form a government outright, political posturing is expected to dominate the news flow over the next two weeks before parliament reconvenes on March 23. While the anti-EU, populist MS5 party garnered the largest single share of the vote, the center-right coalition appears to be jockeying for the first stab at forming a government. Elsewhere, the US Dollar continues to trade higher versus the Canadian Dollar and the Mexican Peso as US President Donald Trump continues to use the power of his Twitter pulpit to discuss the ongoing NAFTA renegotiations.

DailyFX Economic Calendar: Monday, March 5, 2018 – North American Releases

US AM Digest: Italian Election Results, NAFTA Negotiations in Focus

Attention today is on the Italian election results, but key data due up just after the US cash equity open will have consequences for the February US Nonfarm Payrolls report set to be released this coming Friday. The February US ISM Non-Manufacturing Composite covers approximately 70% of US economic activity and two-thirds of American jobs, so it will be watched carefully as traders shape their expectations for the coming labor market report.

DailyFX Webinar Calendar: Monday, March 5, 2018

US AM Digest: Italian Election Results, NAFTA Negotiations in Focus

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