Source: Italy's President wants quick political deal on new government - Reuters

According to a source close to the Italian President Sergio Mattarella, the President wants political parties to reach a deal to form a new coalition government soon in order to avoid snap elections.

Key Quotes:

The President has started consultations to find a new government after the ruling coalition collapsed and Prime Minister Giuseppe Conte resigned this week.

The President wants clear signals of a possible deal on Thursday and to see major developments by early next week.

Despite the upbeat headlines as well as Euro area manufacturing data, the EUR/USD pair reverted to the familiar range near 1.1080 region, having failed once again near 1.1115 region.