EURUSD is clinging to gains above the crucial support of 1.0800 on Tuesday as the Dollar remains under pressure due to firm market speculation that the Fed will start reducing interest rates in September. According to the CME FedWatch tool, traders see a 77% chance that interest rates will be lower than current levels in … Read more
The UK election’s influence on the pound is likely to be limited amid widespread expectation of a Labour victory, according to the CEO of a leading independent financial advisory and fintech. The prediction from Nigel Green, deVere Group chief executive, comes as Britain heads to the polls on Thursday, July 4, with the current opposition Labour Party … Read more
British Prime Minister Rishi Sunak announced an early general election for July 4, 2024, without the UK government insignia, indicating it was not government business. Sunak continued his announcement despite being drenched in rain, facing criticism for not using an umbrella. The Conservatives lag behind Labour in polls, with Sunak taking a gamble by calling the election early. Both Sunak and Labour leader Keir Starmer are seen as uninspiring choices for prime minister.
Spain’s Socialists won the biggest share of the vote in Sunday’s Catalan elections, dealing a serious blow to more than a decade of separatist governance in Catalonia. The Socialists had 42 seats in the 135-seat chamber, while hardline separatist party Junts was in second place with 35 seats and the more moderate separatist party ERC had 20 seats. The result is an existential threat to separatist governance in Catalonia, which led an illegal independence referendum in 2017. Separatist parties do not have enough seats to form a coalition government, and there is a risk the vote may need to be repeated. Separatist sentiment in Catalonia has decreased, with the pro-independence movement losing energy and unity in recent years.
South Africans will vote in a national election on May 29 with uncertainty about the outcome, as polls suggest the African National Congress may lose its majority after 30 years in power. Key issues include high unemployment rates, sluggish economic growth, power cuts, corruption scandals, high rates of violent crime, and rising anti-immigrant sentiment. The government is working to address these issues, with a focus on job creation, economic growth, and tightening immigration laws.
Catalans are voting in a regional election between an exiled separatist politician, Carles Puigdemont, and the Socialist Party led by Salvador Illa. Puigdemont, who fled Spain after a failed independence bid in 2017, is vowing to resurrect the bid if elected. Opinion polls predict a lead for the Socialists, with the possibility of forming a coalition government due to the likelihood of no party reaching a majority. If no agreement is reached by August, a repeat election would take place in October.
Spanish Prime Minister Pedro Sanchez has decided to suspend his public duties until next week to consider whether he wants to continue leading the government after a court launched a preliminary investigation against his wife, Begona Gomez. The court is investigating allegations of influence peddling and business corruption against Gomez, who is accused of using her influence to secure sponsors for a university master’s degree course. Sanchez has defended his wife, claiming she has done nothing illegal and is being attacked to weaken him politically and personally. The outcome of this investigation could lead to Sanchez remaining as prime minister, resigning, or facing a confidence vote. In Spain, corruption cases involving politicians and their associates are not uncommon, with high-profile scandals resulting in convictions.
Israeli Prime Minister Benjamin Netanyahu has stated he will oppose any sanctions imposed on Israeli military units for alleged rights violations. The United States is reportedly considering sanctions on Israel’s Netzah Yehuda battalion, which operates in the West Bank. The State Department has not confirmed these reports but has expressed concerns about human rights violations by Israeli military and police units. Netanyahu has vowed to fight against any sanctions on the IDF, while the Israeli military maintains that the battalion operates within the boundaries of international law.
British lawmakers will vote on moves by Prime Minister Rishi Sunak to ban anyone aged 15 and under from ever buying cigarettes.
The text discusses how Finland could generate over one billion euros in additional tax revenue by closing tax loopholes, according to a report by Finnwatch.