Forex news.
Yesterday was 100th day since Prime Minister Rajoy became the head of executive power in Spain . On this day, as a part of his broadcast speech, he has literally stated the following: "I am here not to announce good news to the Spanish. Now is the time for laying the foundation for Spanish economic recovery so that we could soon create new jobs".
This sounded as a response to bad news on unemployment rate, which has reached 23.6% – the highest point in euro zone. Shortage of employment is logical taking into consideration shortage of state expenditure, which is certainly far from stimulating economic development. However, investors are to be met with "responsibility and understanding"; therefore, last week the government reconsidered the draft budget for new financial year, which foresees expenditure shortage by 27 billion euro.
At FOREX market EURUSD currency pair keeps forming correctional wave "В" of h1-h4 level. According to the System of Early Prediction of Masterforex-V Trading Academy, rising movements, supposingly to points 1.3415 and 1.3436, may be expected during the day. Their crossing, provided that there are other signals, will signal about continuation of daily wave C upwards.
