Hardly has Italian government managed to approve the government austerity program, which is aimed to lower the national debt by 54 billion Euros, when international rating agency Standard & Poor’s expressed its opinion: “We suppose that lowering the rate of Italian economic activity today will make the government financial goals hard to achieve”. On the basis of its calculations S&P has lowered the long-term sovereign credit rating of Italy from А+ to А and the short-term rating – from А-1+ to А-1. The rating forecast is “negative”.
Moody’s Agency is currently having a close look at Italian economy, being in the state of “considering towards lowering”.
The actions of largest rating agencies are being criticized more and more by European leaders, who call them destabilizing and provoking “turbulence at international markets”. In this reference, Italian government started a special investigation at the beginning of August. At that time procuracy searched the offices of S&P and Moody’s.
Maybe today’s actions of Standard & Poor’s are a kind of a strike back for the “offence”?
Forex news
EURUSD currency pair has already worked out the ТР (Turning point) h1 downwards, having not exceeded the low potential of working out this ТР. Therefore, we are experiencing either a correction to the previous h4 bullish motion upwards, or the start of wave “С” of this wave level, which moves downwards.
According to the specialists of the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System , on the basis of breaking the upward motion of impulse structure one can conclude that correction will be at least equal to the wave level. Consequently, wave “В” h1 is expected, where breaking the sloping channel will show sub-wave “С”. Approaching wave С h1 is going to happen further.
Whether the situation or the currently predicted motion direction changes is traced by the signals of the SRP Sub-department under the Department of Masterforex-V Trading System .
