MARKET BRIEFING – LONDON OPEN 02.03.2016

MARKET BRIEFING – LONDON OPEN 02.03.2016

Postby Atlas CapitalFx » Wed Mar 02, 2016 4:43 am

MORE ON ACFXblog.com








MARKET BRIEFING – LONDON OPEN 02.03.2016



Moody’s Investors Service has lowered the China’s government credit rating outlook from stable to negative, according to the agency’s publication this morning. The long-term primary unsecured debt rating and issuer’s other ratings are affirmed at ‘Aa3′.

The main factors to proceed with the revision of the forecast were the deterioration in the country’s financial performance and weak prospects for their further improvement, reflected in the increasing government debt and rising contingent liabilities.

The enduring fall in the country’s reserves due to the outflow of capital could likely deteriorate the country’s external strength. Even though the Chinese reserves still remain of a massive size of US$ 3.2 billion, they have decreased by US$ 762 billion since the peak in June 2014.

Investor’s uncertainty regarding the authorities’ ability to carry out reforms to address imbalances in the economy, according to the agency, also remains of concern.

Besides, the current fiscal and monetary policy provisions to reach 6.5% growth target are feared to slow the implementation of the necessary reforms, undermining the strength of the Chinese institutions, hence weakening their credibility.

Nonetheless, the current rating remained unchanged as a large size of the country contributes to its credit potency. ”Although GDP growth is slowing, it will remain markedly higher than most of China’s rating peers. The size of the buffers available to face current fiscal and capital outflow challenges allows for a gradual implementation of reform and therefore supports an affirmation of the rating at Aa3”, the agency reports.










EURUSD

Image

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.0950

Target 2: 1.0780

Projected range in ATR’s: 0.0088

Daily control level: 1.0860



GBPUSD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.4100

Target 2: 1.3800

Projected range in ATR’s: 0.0149

Daily control level: 1.3895



USDJPY

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 115.25

Target 2: 112.70

Projected range in ATR’s: 1.28

Daily control level: 112.00



USDCHF


Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.0055

Target 2: 0.9885

Projected range in ATR’s: 0.0084

Daily control level: 0.9945


USDCAD

Image

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.3545

Target 2: 1.3270

Projected range in ATR’s: 0.0139

Daily control level: 1.3595



AUDUSD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7255

Target 2: 0.7090

Projected range in ATR’s: 0.0084

Daily control level: 0.7115



GOLD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1255.00

Target 2: 1207.00

Projected range in ATR’s: 23.69

Daily control level: 1210.00



OIL

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 35.75

Target 2: 31.95

Projected range in ATR’s: 1.92

Daily control level: 33.30







MORE ON ACFXblog.com
Atlas CapitalFx
 
Posts: 678
Joined: Mon Dec 17, 2012 7:53 am

Return to Daily market technical Analysis And outlook By ACFX.com



cron