Renzi′s Italy Referendum
Matteo Renzi: An Italian politician born in 1975 who has been a Prime Minister of Italy since the 22nd of February 2014 and also a Secretary of the Democratic Party since the 15th of December 2013.
The UK Referendum (Brexit) shook the markets in June 2016. On the 8th of November Donald Trump stunned the markets when he won the presidency. In case you missed Brexit, it was about the British people voting themselves out of the European Union (EU). Read more about it HERE. During Brexit most ignorant retail traders lost so much money and some traders haven’t recovered from that blow (my team and I were safe from the storm because we are used to following the economic events). On the 8th of November when the US held their presidency votes, I learned that the markets tend to react more to the polls than the actual outcome. I have also learned from the Brexit and US elections that Gold is a must watch. Where there are uncertainties, investors prefer Gold as they see it as their safe haven. If you were ignorant during Brexit and the US Elections, don’t be caught up in the storm again.
Italy Referendum, what is it all about?
The Italian citizens will hit the polls to vote in a referendum of whether to maintain their national constitution. The polls are showing that more people are for a “NO” vote ( they are opposing the constitution change), I don’t trust the polls though, they could be wrong. Most citizens are opposing the proposed constitution changes. Renzi is for a “YES” vote and he said he will resign if the “NO” vote wins. His resignation will lead to a political crisis which may call for Italexit (Italy exiting the EU just like the British people did ). It is all happening on the 4th of December 2016 (mark this date). Watch out for the Euro pairs as Italy uses Euro as their currency. Economic events like these come as a surprise to many traders. But I am always aware due to the method of trading that I use. Read more about how I trade HERE. Thank you so much for stopping by and reading this post, I hope I am adding value to your trading.