Spain's Prime Minister Mariano Rajoy could be forced out of office as the Basque Nationalist Party (PNV), which holds a crucial five seats in parliament, has announced its support to the no-confidence vote, according to BBC.
Socialist leader Pedro Sánchez proposed the no-confidence vote after Rajoy's People's Party (PP) was implicated in a corruption scandal.
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EUR/USD remains below 1.0500, traders await release of key US economic indicators
EUR/USD maintains its position after the recent losses registered in the previous session, trading around 1.0480 during the Asian hours on Wednesday. Traders await the US Personal Consumption Expenditure (PCE) Price Index and quarterly Gross Domestic Product Annualized scheduled to be released later in the North American session.
GBP/USD strengthens above 1.2550 ahead of US PCE inflation data
The GBP/USD pair trades on a stronger note near 1.2570 on Wednesday during the early European session. The Pound Sterling (GBP) consolidates despite US President-elect Donald Trump announcing more tariff measures.
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Gold price builds on the overnight bonce from the $2,600 neighborhood, or a one-week low and gains some follow-through positive traction for the second straight day on Wednesday.
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