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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
German GfK consumer sentiment due in 10 mins. exp at 5.7 from 5.7. any disappointment could further hit the damaged euro here
stocks futures looking very poor here
Ashraf
Belgium sold 3.4 billion euros of bonds with relative ease on Monday and Fitch said it still had many characteristics of a stronger 'core' euro zone member.
However, its high debt and lack of government were causes for concern.
High Debt, Caretaker Government
Belgium's public sector debt totaled 96.6 percent of annual output last year, putting it behind only Greece and Italy in the euro zone and on a par with bailout recipient Ireland.
Panoramic Images | Getty Images
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Fitch affirmed its AA+ rating for Belgian government debt, but said its outlook was now negative rather than stable, mirroring Standard & Poor's warning from last December.
"The negative outlook reflects Fitch's concerns over the pace of structural reform in the coming years and the ability to accelerate fiscal consolidation without a resolution to the constitutional crisis," Douglas Renwick, a director in Fitch's sovereign group said in a statement.
Fitch's warning means that, without effective action in Belgium, it is more likely than not to cut Belgium's credit rating within one to two years.
nice chart...not convinced euro pullback much
has great recuperative powers..trades do fluctuate...
4 hr long and current 4053..
possible now to add wt to E long avg 4115
and long usd/ch as well with a partial ratio
soon to see later on...