EURUSD: Eurozone Debt To Touch 91.8% GDP In Late 2012
Sun, 13 May 2012 18:12:00 +0400
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):
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