Forex Market News

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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Friday, October 14, 2011

UBS downgraded to A from A+ by Fitch(14-Oct-2011)

  • Credit Suisse placed on rating watch negative by Fitch
  • Morgan Stanley, Goldman Sachs placed on watch negative by Fitch
  • Fitch placed Rabobank (the last AAA) on watch negative
  • Deutsche Bank placed on review for a downgrade
A total of 13 banks are on Fitch’s potential hit list.
Look for some risk-off on these downgrades

By
M.Zohaib Gadit
Forex Trading Consultant

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