According to Standard & Poor's report released today, Francois Holland’s victory won’t have an immediate impact on France’s credit rating. It will remain “AA+” with a negative forecast.
S&P deprived France of its highest “AAA” rating in January 2012. According to S&P analysts, there is still a 30% possibility of a further decline within 2 years. They consider themselves politically unbiased. However, the president’s activities have a direct impact on the country’s creditworthiness.
According to experts, the EURUSD futures contract is being traded within the 1.2900-1.2950 price range. However, judging by the Asian up-thrust and the newly-formed stop volume, the bears have difficulty initiating a downtrend. However, the absence of demand indicates that the bulls are facing resistance as well. A break and consolidation outside the price range will determine the direction of the future trend.
