Thu, 22 Dec 2011 05:12:00 +0400
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.
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The Chinese economy seems to have exhausted its growth potential the way it is now. With that being said, Beijing now has to fight the existing lending bubble as well as the country’s dependence on investments.
Iran is finally free of Western sanctions. The sanctions imposed by the USA and its Western allies regarding the Iranian nuclear program no longer exist, which gives Iran an opportunity to return to the global market of crude oil as a major player.
This year, the global economy is going to be seriously affected by the economic slowdown in China, which is the world’s second-largest economy after the USA. This is what the IMF’s chief economist thinks on the matter. During his interview to IMF Survey, he said that the global economy is going to be seriously influenced by emerging markets, including China as the major one.
Some experts believe that the economic slowdown in China may indirectly affect the political and economic situation in Russia. While, the international community is watching the escalation of the conflict between Saudi Arabia and Iran, Russia is one of those who may benefit from the conflict in the Middle East.
The Fed’s interest rate hike has put an end to the era of super-cheap money in the USA. For other countries including Russia, this means tougher competition for foreign loans and investments. A lot has been said about the Fed’s money printing within the scope of QE as well as about low interest rates. The Federal Reserve ended QE more than 12 months ago. However, the decision to start raising the interest rates was a truly major event for the international community. The decision to raise the interest rate for the first time in 9 years was made on December 16, 2015.
The USSR once had an ambitious goal to outpace the USA in every single aspect. Today’s Russia doesn’t even try to speak about it. Russian politicians are only touching upon some historical and geopolitical missions as well as human spirituality. Apparently, Russia want’s to be a superpower in the modern world.
It is reported that the Fed’s FOMC members are still at odds over the idea of increasing the interest rates as promised. We remind you that the FOMC meeting is going to take place just in a few days (less than a week).