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Thursday, 30 July 23:58 (GMT -05:00)



Business And Politics News

Herman Van Rompuy: there is a way out from crisis


Forex news. The web-site of European Union displays a video message from EU President Herman Van Rompuy, in which he announces that another meeting of EU heads has been planned for January 30, 2012. Formally, the problem of unemployment will be the key topic of discussion, whereas in fact the issue of Eurozone debt crisis will certainly be raised.
In general, the message is rather positive: "We are to take drastic measures in the sphere of unemployment. Providing financial stability within Eurozone is of major importance for our future. This year we have made significant decisions to fight the crisis of sovereign debt. Almost all countries, members of the union, are holding reforms aimed at rising the competitiveness of our companies and strengthening public finance. There is a social way out from crisis".

As a balance to the official optimism of European Union, RBC Daily newspaper has published a translation of Nobel Prize winner in economics Joseph Stiglitz’s view on current situation. Its main idea can be summed up as "World is on the point of new chaos". Stiglitz supposes that the best thing about the expiring year of 2011 is that it has probably been better than the coming 2012.

At FOREX market EURUSD currency pair is forming a rising wave "С" of h1 level, which corresponds to sub-wave "с" within the ТР (Turning Point) of h4 level.
4th sub-wave is being formed as a part of wave "С". As soon as it is over, the current rising trend will probably continue, provided that there are no signals about its termination. In such a case, point 1.3183 will be the nearest target, as stated by the specialists of the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System .

 

 

SRP Sub-department under the Department of Masterforex-V Trading System will signal about the change of the situation or trend.

 

You are free to discuss this article here:   forum for traders and investors

 

Text: Alex von Stachelkopf, expert of SRP Sub-Department under the Department of Masterforex-V TS
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Standard & Poor's Upgrades Greece’s Credit Ratings

On July 21st, Standard & Poor's, a well known international rating agency headquartered in the USA, upgraded Greece’s credit ratings – both in national and foreign currencies. The ratings went 2 steps up from CCC- up to CCC+, with a stable forecast, Market Leader reports.

 
Publication date: 23 July 04:58 AM

Greece Reopens Banks As Consumer Prices May Grow

Since today, July 20th, Greece has finally reopened its banks. This happened after the banks were close for 3 weeks. At the same time, the VAT and consumer prices are expected to be increased.

 

 
This means that the local banks are going to function under supervision. However, this is not going to prevent depositors and other clients from making major types of financial transactions, including withdrawal of savings.
Publication date: 20 July 10:03 AM

Greeks Express Discontent as Greece Compromises with Euro Group

The latest agreement reached between the Greek government and the Euro Group regarding the conditions for getting further financial support triggered a wave of protests throughout Greece.
 
The adversaries of the compromise with the lenders as well as the supporters of a Greek exit from the Eurozone gathered together yesterday, on July 13th, in front of the local parliament and burned the SYRIZA flag.
 
Publication date: 14 July 04:02 AM

Greece Prepares Reforms for 12 Billion Euro

According to Greek media, the country’s government is preparing a package of proposals on economic reforms for two years worth 12 bln. euro. “It is worth mentioning that such offer exceeds the initial plan by 4 bln. euro,” states the “Market Leader”.
 
Publication date: 10 July 12:33 PM

Beijing Remains At Odds After Stock Market Crash

After a stunning stock market crash in China, the Chinese government is doomed to learn a lesson and understand that a governmental intervention may trigger market panic, thereby escalating the situation. With that in mind, any such intervention may do more harm than good and therefore looks inefficient.

Publication date: 10 July 06:22 AM

Experts Name Reasons For Grexit

The majority of the Greeks participating in the nation wide referendum on July 5th said NO to the offer made by the troika of lenders in exchange for further financial support. This provoked a wave of indignation among financial experts and plain folks.

Publication date: 08 July 07:12 AM

IMF Want to Help Greece

 

Greece keeps on being mentioned in European headlines. It seems like there is some kind of remission after the Greeks celebrated the “victory” over further austerity and the finance minister’s resignation.
Publication date: 07 July 11:05 AM

International Banks Predict Grexit

Some of the world’s biggest financial institutions predict the so-called Grexit (stands for Greek exit from the Eurozone) after the recent referendum conducted over the weekend. The referendum resulted in the NO answer to the offer made by the troika of lenders, Market Leander reports. It is reported that the list of banks predicting the Grexit includes JPMorgan Chase & Co, Barclays, Societe Generale and the Royal Bank of Scotland .

 
Publication date: 06 July 05:19 PM

Predictions For Greece After Referendum

Yesterday’s referendum in Greece resulted in “NO” to the troika of lenders. This means that Greece is not going to practice deeper austerity and perform structural reforms required to get further financial aid from the ECB / EU and the IMF, not to mention debt restructuring.

Publication date: 06 July 04:53 PM

Greece Urgently Needs 50 Billion EUR, IMF Says

According to the recent report on Greece published the IMF, the Greek financial system urgently needs 50 billion EUR to survive the current crisis and to revive the economy. Still, in order to do that, Greece need to meet certain conditions put forward by the lenders. It is reported that if there is such a financial aid, 36 billion EUR of it will come from European funds.

Publication date: 04 July 07:12 AM