As Greek default continues to be the object of voting and agreements due to the need of new loan, the rating agencies make attempts no to touch upon its fall.
This game is dangerous as it combines the lack of political will and the veracity of the rating that worsens the credit situation of a country whose poverty is increasing and continuous and reveals the results.
One may wonder how many votes and approval by large majorities are needed to solve this problem. If these votes were given by Germany, no one would doubt them.
The rhythm of stock markets move is influenced by the timid European governments and the fact that their contributors won and lost assets held in incessantly.
While Monday was an inappropriate day, the Tuesday’s European session showed the decrease of the major indexes including the modest losses of the old continent that remained almost unchanged compared to the day before.
The coins follow the same pattern of movement, and most of them are still in very narrow price range, although today they are (at least the European currencies) in a slight short-term uptrend, which could be consolidated during the American session.
These steps were followed by the Canadian dollar, which again strengthened the hand of oil, below the Monday’s high and the Australian dollar, which remained the gold also very strong.
The current data including the durable goods orders, was released at 8:30 Eastern. The key report and the consumer confidence index issued by the Conference Board were released at 10:00 (both in the U.S).
Germany rate of retail inflation is expected to appear soon, though it is necessary to consider that the schedule is not confirmed yet due to the flexibility of the European Central Bank. An increase in inflation in Germany naturally affects the economy and the whole Europe.
