Catalonia Has 24 Hours to Decide

Inigo Mendez de Vigo, the Spanish government’s chief spokesman, said officials in Madrid will decide whether to oust the Catalan president on the basis of his actions over the next 24 hours.Spain has given Catalonia’s Carles Puigdemont until 10 a.m. on Thursday to renounce his claims to independence or see the central government step in to take control of the rebel region. Asked in a Bloomberg Television interview Wednesday if Puigdemont and his police chief, Josep Lluis Trapero, would keep their jobs in that scenario, Mendez de Vigo said: “It depends on the answer of Mr. Puigdemont.”“The important thing is to restore the rule of law for all Catalans and not only those Catalans who want to be independent,” Mendez de Vigo added.

Source: Spain Says Catalonia’s Leader May Be Ousted If Madrid Intervenes – Bloomberg

USD/JPY – Yen Under Pressure, Markets Braced for Soft Japanese Trade Surplus

USD/CAD – Canadian Dollar Quiet Ahead of Cdn. Manufacturing Sales

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.