(22 DECEMBER 2017)DAILY MARKET BRIEF 2:Euro ignores Catalonian confusion

Who won yesterday’s election – the Catalexit crowd or the Remain-in-Spain supporters? It’s not clear! Both sides are claiming victory, and the parliament is split. Separatist parties took 70 of the 135 seats, but the pro-Spain Citizens Party won the most seats, 36. So the wrangling looks likely to continue.

Amidst all this, the Euro yawned. EUR/USD is stable, as traders are pricing in the least disruptive outcome.

Please note this will be the last report until January 8th 2018. Have a happy holiday season.

By Peter Rosenstreich