European Commission to reject Italy's budget proposal - Spiegel

Citing EU Budget Commissioner Günther Osttinger, German news outlet Spiegel reported that the European Commission has decided to reject Italy's budget proposal for 2019, which forces Italy to submit an updated budget proposal in the next two weeks.

"It has been confirmed that Italy's budget for 2019 is not compatible with the commitments that exist in the EU," Oettinger told Spiegel.

Gold trades in upper-half of daily range, approaches $1230

Following yesterday's downward correction, the XAU/USD pair is trying to gather momentum on Wednesday and trades near $1227 ahead of Wall Street's ope
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BoC likely to lift the overnight rate by 25 bps next week - TDS

Analysts at TD Securities expect the Bank of Canada to lift the overnight rate by 25 bps next week, which is in line with consensus and already priced
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