EURUSD: Eurozone Debt To Touch 91.8% GDP In Late 2012
13 May 06:12 PM
The European Commission experts expect the eurozone’s cumulative public debt will hit 91.8% of the eurozone GDP. In 2013, the debt is expected to reach 92.6%.
As for the EU’s cumulative debt, the experts anticipate an increase up to 86% of GDP in 2012 and up to 87% in a year later. The debt will grow mainly at the expense of Spain , Greece, France, Portugal and Ireland.
The euro Commission points out that Germany will manage to reduce its public debt in 2013 down to 80.7% of its national GDP as compared to the current figures – 82.2%. Italy is also expected to have its debt reduced from 123,5% down to 121,8% of GDP.
As for Greece, it is expected to continue accumulating big debts. In 2013, its debt is expected to near 170% of GDP.
According to Masterforex-V Academy, EURUSD keeps forming wave c(C )/5 H6 started at 1,3065. The next major levels of support are located at 1,2899, 1,2870 and 1,2848. A change of trend will be probable if the price breaks above 1,3043 and forms a bullish FZR above the level (as shown below):
Monday has been relatively calm so far, without strong directional moves seen in the market of EURUSD. At this point, the currency pair is consolidating within the scope of the 1.3118 - 1.3145 price range.
Today's European trading session has been relatively calm, without strong directional moves. At this point, the currency pair seems to be making a bullish reaction to the previous bearish move that resulted in setting a new low of the year at 1.3318.
It is known that beginners usually have luck, and Forex is no exception in this reference. Besides, here luck starts literally once one has made a decision to become a trader, for today, in order to learn how to work at Forex and actually start doing this, one does not need to graduate from specialized educational establishments. You can get the knowledge on your own –internet provides a lot of high-quality educational materials, books, and forums, where you can communicate with like-minded people.
Yesterday, the common European currency was under pressure exerted by the sellers.
EURUSD started going down since the local high of 1.3218. By the endo of the trading day, the price reached 1.3159. his is still the local low.
Yesterday, we saw positive stats coming from the USA. They concerned the local labor and housing market. In particular, the amount of initial jobless claims shrank from 299 000 down to 298 000 last week, which is definitely a positive sing for those who purchase the US Dollar.
At the same time, the amount of incomplete sales in the local housing market increased up to 3.3% in August. The sales increase took place from 102.5 points up to 105.9 points.
Today, on August 29th, Japan delivered a news block of 4 economic reports during today's Asian trading session. The news block indicates that the economic recovery seen after the recent sales tax increase is unstable and inconsistent. Most likely, the recovery period is going to be longer than expected by the Bank of Japan.
Forex Trend’s PAMM Accounts Keeps On Generating Stellar Profits !!!
If you are really intended to make a successful career and to back your bright financial future, investing in safe-have assets with decent yields is a way out. To tell you the truth, it is not as difficult as one might think at first. Still, it is only possible provided that you are really willing to devote enough time, money and effort to it. Practice shows that anything is really possible for ambitious and hardworking people doing their best to make their dreams come true.
The strong downward pressure exerted by the sellers of EURUSD weakened a little bit suring yesterday's trading hours. After hitting a local low at 1.3152, the common European currency started regaining some of the lost ground against the US Dollar. The bullish recovery took almost the entire trading day amid a lack of major economic news from the Eurozone and the USA.
The sellers' pressure exerted on the common European currency is still underway. Since the nightly low of 1,3152, the currency pair recovered during the entire European trading session of August 27th but the started going down again. The price level of 1.3188 is still the intraday high.