Italy Wage Inflation (MoM) steadies at 0% in Mar; 1.4% (YoY)

The EUR/USD is starting the week in strength after closing Friday trading above 1.3000 and investors cheer this weekend’s news of an Italian coalition government, with PM Lette (PD) forming an alliance with Berlusconi’s PDL party (even though he is not assuming any senior ministerial positions, he remains popular and influential), while Grillo’s Five-Star party refused to join, as expected. The market will also be pricing in expectations regarding the ECB meeting and the FOMC meeting this week.