Italian deputy prime minister Matteo Salvini has called for a snap election in Italy saying there is no longer a majority in Parliament as his spat with co-deputy prime minister Luigi di Maio turns increasingly ugly.
The recent EURUSD uptick is being reversed after the latest official German industrial production data show output crashing to multi-year lows.
Rate decisions take place out of both Europe and the US in the next two weeks, with each carrying the expectation for dovish policy from the respective Central Bank.