Forex news.
Budget issues of Italy as the 3rd country in Eurozone according to the size of GDP have lead to record high rates of Italian bonds, for which Italy is currently obliged to pay about 7% annually. This, in its turn, leads to worse situation and potential threat of default.
The day before yesterday Italian Prime Minister Mario Monti in his interview to Financial Times appealed to his partners in European Union for cooperation in reducing the value of debt issues; after such statement he left for London meeting with his British colleague.
During the concluding press conference David Cameron took another opportunity to demonstrate the different view of Great Britain concerning the ways to fight crisis. He has stated that his country will increase its contribution to IMF only if leaders of Eurozone adjust their policy. "EU is overconcerned about budget deficit. This certainly is of great importance, but we should also pay attention to the deficit of current account balance, competitiveness, and general market reforms. These problems, which have been discussed with Mr. Monti, are very important," he said.
Technically, at FOREX market EURUSD currency pair keeps forming rising wave "А" of h1 level. According to the specialists of the System of Early Prediction Sub-department within Masterforex-V Trading Academy, when correctional wave level rises at the point of sub-waves, its targets at the top will be provided by points 1.2916 (with which daily Sloping Axis almost coincides) and 1.3009.
