Geopolitics seen dragging Europe Lower Today

Geopolitical concerns are weighing on investor sentiment this morning as Europe is getting ready to ring the bell in a couple of hours. Investors are focusing on European politics as well as overseas concerns effecting Europe.

As of 6:50 am London time, futures on the FTSE 100 are 14 points lower. Futures in Germany are down 13 points and in France they are down 22 points.

This morning, investors in Europe are focusing on the political sphere. There are concerns over a Greek bailout. There are also questions as to when Italy will undergo its next election. Today, all of this will weigh on sentiment.

In the currency universe the EUR/USD was under some pressure during Asian trade hours. There are reports that Greece’s finance minister stated that his country’s creditors have to reach an agreement on debt relief measures next month. This step will be needed to support Greece’s return to bond markets.

Europe focuses on Politics

In other political news, Italy’s former Prime Minister Matteo Renzi said that it seemed appropriate for his country to hold its next election at the same time as Germany. Germany’s elections are set to take place in September 2017.

There is little over a week till thee British elections. This means the British Pound will be closely watched.

Yesterday, UK Prime Minister Theresa May and opposition leader Jeremy Corbyn outlined their proposals on a Brexit deal. May reiterated that no deal with the European Union is better than a bad deal. Labor candidate, Corbyn said that a deal would happen if Labor won the election.