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2013-07-15 01:17 GMT
Fitch downgrades France to AA+ from AAA
Fitch Ratings has downgraded France to AA+ from AAA on Friday, keeping a stable outlook on the country's debt.
Fitch, which joins S&P and Moody's in removing the country's AAA rating, cited the high level of the French government indebtedness as one of the main reasons of the downgrade. Fitch expects France's general government debt to peak at 96% of GDP in 2014 and decline only gradually over the long term, remaining at 92% in 2017.
"The only 'AAA' country with a higher debt ratio is the U.S. (AAA/negative), which has exceptional financing flexibility and debt tolerance afforded by the preeminent global reserve currency status of the U.S. dollar," Fitch said in a statement.
Standard & Poor's has affirmed on Friday Germany's top triple-A sovereign credit rating, with a stable outlook.
The rating agency justified its decision saying that “Germany has a highly diversified and competitive economy with a demonstrated ability to absorb large economic and financial shocks.”
As far as the outlook on the long-term rating is concerned, S&P's decision to keep it 'stable' reflects their view that: “Germany's public finances and strong external balance sheet will continue to withstand potential financial and economic shocks.”-FXstreet.com
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2013-07-15 07:15 GMT
Switzerland. Producer and Import Prices (YoY)
2013-07-15 12:00 GMT
USA. Fed's Tarullo speech
2013-07-15 12:30 GMT
USA. Retail Sales (MoM)
2013-07-15 22:45 GMT
New Zeland. Consumer Price Index (YoY)
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2013-07-15 04:56 GMT
GBP/USD treading water above 1.5100
2013-07-15 03:49 GMT
AUD/USD exposed to 0.80/0.85 fall - RBS
2013-07-15 03:35 GMT
EUR/USD, 1.2930-80 key to technical outlook - BBH
2013-07-15 02:39 GMT
USD/JPY flat above 99.00 with Tokyo closed
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EURUSD
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HIGH
1.3079
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LOW
1.30513
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BID
1.30773
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ASK
1.30773
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CHANGE
0.08%
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TIME
08:00:33
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Low
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: With limited economic data flow today we expect further neutral tone development. However, price strengthening is possible above the next resistance level at 1.3092 (R1). Our interim target holds at 1.3124 (R2) en route to our final aim for today at 1.3157 (R3).
Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 1.3044 (S1). Possible price regress could expose our initial targets at 1.3008 (S2) and 1.2974 (S3) later on today.
Resistance Levels: 1.3092, 1.3124, 1.3157
Support Levels: 1.3044, 1.3008, 1.2974
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GBPUSD
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HIGH
1.51287
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LOW
1.5098
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BID
1.51257
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ASK
1.51268
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CHANGE
0.13%
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TIME
08:00:33
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Upward
penetration
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Low
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Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5141 (R1). Break here is required to prolong upside pressure and trigger our intraday targets at 1.5173(R2) and 1.5203 (R3) later on today.
Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.5088 (S1). Penetration below this mark would suggest next targets at 1.5059 (S2) and 1.5028 (S3).
Resistance Levels: 1.5141, 1.5173, 1.5203
Support Levels: 1.5088, 1.5059, 1.5028
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USDJPY
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HIGH
99.383
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LOW
99.074
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BID
99.271
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ASK
99.272
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CHANGE
0.06%
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TIME
08:00:34
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OUTLOOK SUMMARY
Neutral
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Low
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Upwards scenario: On the upside potential is seen for a break above the resistance at 99.46 (R1). In such case we would suggest next target at 99.68 (R2) and any further rise would then be limited to final resistance at 99.90 (R3).
Downwards scenario: On the other hand, loss of our support level at 99.03 (S1) would open road for a market decline towards to our next target at 98.83 (S2). Any further price weakening would then be limited to final support for today at 98.61 (S3).
Resistance Levels: 99.46, 99.68, 99.90
Support Levels: 99.03, 98.83, 98.61
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