According to Moody’s Investors Service, the political struggle in the US Congress between the Democrats and the Republicans in the run-up to the 2012 elections caused tensions concerning the traditional procedure of increasing the limit of the US public debt. Moody’s warns the USA that it may cut the country’s rating as there is a slight but growing threat of default.
The thing is that on Tuesday the House of Representative rejected the corresponding bill offered by the US Government. Standard & Poor’s is also impressed and is going to revise the USA’s rating.
Moody’s says that if the debt limit is increased the rating will stay at the level of AAA. However, the rating forecast will depend on the results of the talks on budget deficit reduction. If the USA agrees to reduce the deficit to a great extent the forecast will remain “stable”, otherwise it will be changed for “negative”.
Forex.
EURUSD keeps elongating the RP (reversal point) workout of h4, which corresponds to the wave level increase of the ABC correction patter of h1. If there is no reversal signal, the new wave C H1 will head for 1.4608.
According to the ASF Sub-Department under the Department of Masterforex-V trading system , at the moment the ML (main line) is moving towards the S/R (support resistance) line which indicates a wave of the smaller timeframe.
To define the vector of the forthcoming movement we apply the elements of the Anticipatory Forecasting System and other binary patterns by MF.
