FOREX - Trends, Forecasts and Implications (Episode 18: August 2012) - page 266

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margaret:

Greece's credit rating ready to be lowered further

Experts from the international agency Standard & Poor's on 7 August lowered the outlook for the Greek economy from "stable" to "negative". In 50% of cases the revision of credit rating expectations leads to a change in the indicator itself. S&P currently assigns a CCC rating to the state of the Greek economy. This rating level is referred to as "junk" - the name derives from the fact that the debt of CCC-rated countries is regarded as a bad commodity on the market.

And the pound is being bought back...
 
Serg51:
And the pound is being bought back...
The eurozone has not scheduled its own statistics for the coming sessions. But there will be releases on a number of reports from China. New signs of weakening economy in China may weaken the demand for risky assets. This means that the Euro-dollar pair will continue falling, the initial target being 1.2300. Data from the USA may also increase the pressure on the Euro and send it towards 1.2260, provided that it once again emphasizes that the economy feels quite stable and there is no need to launch QE3.
 
If EUR/USD manages to break above $1.2443 (one month high, 61.8% Fibonacci recovery from the June 29 high), it will have an upside opportunity towards $1.2500. In the meantime, it looks like the bulls are pushing the Euro higher with great difficulty, as many traders are still waiting for the opportunity to sell. If the Euro's rise stalls, many bullish players are likely to want to lock in profits.
 
margaret:
The eurozone has not scheduled its own statistics for the coming sessions. But there will be releases on a number of reports from China. New signs of the weakening economy in China may weaken the demand for risky assets. This means that the Euro-dollar pair will continue falling, the initial target being 1.2300. Data from the USA may also increase the pressure on the Euro and send it towards 1.2260, provided that it once again emphasizes that the economy feels quite stable and there is no need to launch QE3.
This week?
 
Serg51:
And the pound is being bought back...

it rose on King's speech

...The British currency surged to yesterday's highs of $1.5685 and tested the $1.5672 mark on comments from Bank of England Governor Mervyn King. King said that there were no immediate plans to cut interest rates, as it could hurt the nation's financial institutions. He pointed to a number of circumstances hindering the recovery of the British economy. Chief among these obstacles is the worsening of the European debt crisis, which also prevents accurate forecasts. However, the central bank governor said that the initial impact of the new FLS programme, which eases bank lending to households and companies, is positive. King expects British GDP to recover in Q3 2012.

 
Serg51:
This week?
Tonight.
 
margaret:
tonight

Bravo!
 
Thank you!!!
 
margaret:
tonight

What time will that be?
 
http://www.forexpros.ru/economic-calendar/
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