2012-10-10 21:08 GMT
Spain’s S&P downgrade
Ratings agency S&P announced it has cut Spain’s sovereign debt rating from BBB+ to BBB-, with Outlook Negative. The statement from S&P reads: “The downgrade reflects our view of mounting risks to Spain's public finances, due to rising economic and political pressures.”
S&P adds: “In our view, the capacity of Spain's political institutions (both domestic and multilateral) to deal with the severe challenges posed by the current economic and financial crisis is declining, and therefore, in accordance with our rating methodology … we have lowered the rating by two notches.”
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2012-10-11 06:00 GMT
Germany. Consumer Price Index
2012-10-11 08:00 GMT
E.M.U. ECB Monthly Bulletinsenectus
2012-10-11 12:30 GMT
United States. Trade Balance.
2012-10-11 15:00 GMT
United States. Crude Oil Inventories
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2012-10-11 04:18 GMT
USD/JPY threatening bids below 78.00
2012-10-11 04:17 GMT
AUD/JPY more choppy action around 80 figure
2012-10-11 04:49 GMT
Analysts’ eye on EUR/USD
2012-10-11 03:34 GMT
AUD/USD breaks 1.0275
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SUMMARY
Down
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TREND
Downward
penetration
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: After the Spain’s sovereign debt has been downgraded to the BBB-, EURUSD has settled negative bias.
Main scenario: Further decline is possible below the next support level at 1.2848 (S1). Expected targets locates at 1.2816 (S2) and 1.2783 (S3) in potential.
Alternative scenario: Our next resistance level is placed above the fresh high at 1.2879 (R1), violation here might expose next targets at 1.2909 (R2) and 1.2939 (R3).
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SUMMARY
Down
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TREND
Downward
penetration
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MA10
Bullish
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MA20
Bearish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: Pair has settled negative bias on the hourly timeframe but recently moved in sideways mode. Today we expect further correction development as main scenario.
Main scenario: Successful penetration above the resistance at 1.6035 (R1) might provide sufficient space for the price increase towards to our targets at 1.6060 (R2) and 1.6085 (R3).
Alternative scenario: On the flip side, depreciation below the support level at 1.5999 (S1) would suggest next targets at 1.5973 (S2) and 1.5946 (S3) in potential.
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SUMMARY
Down
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TREND
Downward
penetration
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Technical Summary: Our outlook is negative for USD versus JPY. Our technical indicators are pointing down and we expect further market decline today.
Main scenario: Break below the support at 77.98 (S1) would suggest next target at 77.91 (S2). Price level at 77.82 (S3) is acting as final support level for the pair today.
Alternative scenario: If the market manage to climb above the resistance level at 78.10 (R1) we expect next target to be achieved at 78.18 (R2) and any further rise would then be targeting to 78.27 (R3).
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