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Tuesday, 7 July 04:55 (GMT -05:00)



Foreign exchange market

Egan Jones Downgrades US Rating


 

 

Egan Jones Rating Company has downgraded the USA’s rating down to AA with a negative forecast. The major reason for that is the fact that the US public debt has exceeded 10% of the country’s GDP. During the period of 2008-2010 the US debt increased by 23.6% while its GDP gained only 1.6% over the same period of time. Egan Jones experts expect the debt will reach 106^ of the US GDP in late 2012.
 

 

 

 

 

 

It should be noted that in July 2011 Egan Jones downgraded the country’s rating a month before S&P did the same, which caused a collapse in the US stock market in August 2011.
 
The private rating company - Egan Jones – deserves attention it was the only to downgrade the rating of the infamous MF Global long before its bankruptcy in 2011. Egan Jones was founded in 1995. It is sponsored by institutionary investors and is independent from major financial institutions.
 
According to Masterforex-V Academy, the USD index has formed wave «А/В» 78,80-80,38 of wave level Daily. The uptrend will resume if the price breaks above the MF pivot 80,32 and forms a FZR above it. A mid-term trend reversal will take place if the price breaks and consolidates below 78,95.

 

 

 

 

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FOREX. USDCHF Outlook

 

According to the recent KOF report, the economic conditions in Switzerland deteriorated in June 2015, Market Leader reports. In particular, the experts say that the deterioration took place mainly due to some negative tendencies in the domestic manufacturing sector.
 
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According to the data published by the U.S. Department of Commerce, the sales of residential property in the USA increased by 2.2% in May 2015 relative to the same figures in April 2015. In absolute figures, the index increased up to 546 000 home sales y/y.

Publication date: 29 June 03:35 AM

Forex. USDCAD: U.S. Dollar Gains Value Relative To Canadian Dollar Amid CPI Slowdo

 

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Publication date: 29 June 03:12 AM

Forex: U.S. Dollar Still Flat Against Aussie

 

The Australian economy is still at the stage of completing the period of high growth rates. This is what the IMF thinks on he matter, Market Leader reports. The experts warn the Reserve Bank of Australia about the necessity of decisive steps aimed at easing the central bank’s monetary policy in the near future if the economic situation in the country cries for it.

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FOREX. EURUSD: Dollar Drops Relative to Euro on Strong GDP Figures from France

 

According to Insee, which is the French officer national statistics, the French GDP growth amounted to 0,6% in Q1 2015 relative to the same figures a 12 months before. It should be noted that these are the strongest GDP figures France has shown since 2013, Market Leader reports.

Publication date: 28 June 05:06 PM

Forex: U.S. Dollar Gains Value against Japanese Yen Amid Lower Inflation in Japan

 

Market Leader reports that the Bank of Japan expects an industrial production decline in April-June 2015 after 3 months of positive dynamics amid weak consumption figures coming from Asia.

 


The industrial production output increased by 1,5% in Q1 2015 as opposed to Q1 2014. This is an indication that the Japanese economic growth is accelerating. By the way, Japan is the world’s 3rd biggest economy.

Publication date: 28 June 04:39 PM