Forex Flash: First Italian exit polls at 2pm London time - Wetpac

Italian elections, while somewhat overshadowed by events in the UK, Japan and even the Oscars award ceremony, is the key risk event for the European session. Polling booths are opened all Sunday and open again from 7am until 3pm Italian local time on Monday.

As Sean Callow, currency strategist at Westpac, notes: "The first exit polls will be released with the closing of voting at 2pm London time (3pm local). EUR/USD should be positively correlated with the performance of frontrunner Bersani (centre-left) and incumbent PM Monti, while a surprise win for spoiler Berlusconi would be taken very negatively."