Asian session: Mario Monti has held a post of the prime minister of Italy
14.11.2011, 09:10

Asian session: Mario Monti has held a post of the prime minister of Italy

The euro maintained a two-day gain on prospects confidence in Italy’s ability to curb its debt will be revived after Mario Monti, a former European Union competition commissioner, takes over as prime minister. Italy’s President Giorgio Napolitano offered Monti the post of prime minister after sounding out the country’s political parties for their support in consultations yesterday. Monti must present the names of his Cabinet ministers to Napolitano before he can be sworn in. He will then face confidence votes in both houses of parliament. Leaders of outgoing Premier Silvio Berlusconi’s People of Liberty party earlier told Napolitano that they’ll support a Monti government, virtually ensuring his confirmation in parliament, which may come this week.

The 17-nation currency was supported after Greece’s finance minister said his priority is to ensure the country gets a sixth loan under an EU-led bailout after Prime Minister Lucas Papademos took charge.

The New Zealand dollar climbed for a second day after a government report showed retail sales increased by the most since 2006, adding to signs the domestic economy remains resilient.


EUR/USD: on Asian session the pair fell.

GBP/USD: on Asian session the pair decreased.

USD/JPY: on Asian session the pair continues falling.


On Monday EMU data rounds off at 1000GMT with EMU industrial output. At 1000GMT, German Chancellor Angela Merkel delivers a speech at a convention of her CDU party, in Leipzig. The OECD leading indicator data for September is then due, at 1100GMT. At 1300GMT, German Economics Minister Philipp Roesler delivers a speech at a conference on EU matters, in Berlin. At the Riksbank and ECB Conference on Bank Resolution, in Stockholm, at 1530GMT ECB Executive Board member Peter Praet is due to participate in a panel discussion, while at 1800GMT, ECB Vice President Vitor Constancio is due to give a dinner keynote speech.

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