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GBPUSD: UK’s Rating Is Under Threat

The UK’s highest credit rating (AAA) is under threat while the British economy is gradually falling into recession, a former MPC member David Blanchflower is sure. According to him, Great Britain’s sovereign rating will be reconsidered and downgraded within 6 months. The only way to avoid a rating cut is to stimulate the country’s economic growth thought social spending and active lending.

EURUSD Remains Flattish Despite Positive Inflation Data

According to ЕС Eurostat, consumer prices decline by 0.2% in November and by 4.3% in comparison with Dec 2010.

EURUSD: Outlook

Portugal is currently considered the 2nd weakest eurozone economy after Greece. This week Portugal has managed to sell its T-bonds to the amount of 1.5B euro. The ambitious plans and reforms announced by the new Spanish and Italian governments seem to have reassured investors.

Eurozone Instability Affects Global Economy, IMF Says

The global financial system has become unstable several months ago, the IMF concluded in its latest report on global financial stability. It is no surprise that the eurozone has been the main source of instability as the debt crisis in the region keeps escalating.

EURUSD: Asia May Help Eurozone

Yesterday Angela Merkel made an official visit to Beijing to meet with Wen Jiabao, China’s Premier Minister. The eurozone crisis was the main topic to discuss.

EURUSD: Market Outlook

EURUSD has been moving in a mid-term price range for more than a week. Within the scope of this range smaller-scale timeframes do show some action in the form of complex patterns.

NZDUSD: Market Outlook

The amount of building permits in New Zealand remains low despite an increase in December. In January the index gained 2.1% (y/y) with a glance at seasonality.

In Dec 2011 the amount of building permits was equal to 1127 (or +13%). Some analysts say that Australia’s building permits have been growing for the 9th consecutive month.

Julia Gillard: Australian Dollar Remains Strong

According to Andrew Solter, a strategist for ANZ, AUDUSD is being affected by China’s economic stats and some domestic factors. Stan Shamu, a market strategist for IG, most investors are looking forward to the end of the Greek debt talks. Julia Gillard, the Prime Minister of Australia, assumes that in long-term perspective, the Australian Dollar will remain strong, thus underlying that the eurozone crisis affects even such financial strongholds as Switzerland, which makes investors consider the Aussie a safe haven asset for the first time in history.

Euro Rate: Belgium Acknowledges Recession

Preliminary data of Central Bank shows that during the third quarter of the previous year GDP has dropped by 0.2 percent and kept falling by 0.1 percent during the last one.

Euro Rate: In-Flat Dynamics

Having formed rising wave "А" of m15 level during the previous day, EURUSD currency pair is finishing "АВС" structure on the eve of European trading session at FOREX market. This is done at the level of sub-waves. The wave is supposed to eventually complete bullish wave "А" m15 with full-rate correctional wave "В" of the same wave level.