EURUSD rose on Friday and closed at 1.3670. The ratings agency Standard and Poor’s downgraded the credit rating of the Eurozone from AAA to AA+ with a stable outlook. On the other hand Fitch Ratings affirmed France’s AA+ rating. The International Monetary Fund raised its outlook for the US Economy and forecasted that the economy would expand at a faster pace next year, because of the positive economic data and the sings of compromise in the US Congress. On the economic side an official report indicated that the Gross Domestic Product in the United States grew at 4.1 percent on an annual basis in the 3rd quarter of 2013. The President of the United States Federal Reserve in Boston Eric Rosengren stated on Friday that he does not agree with the cut of the asset purchase program that FED announced last week. According to Rosengren the unemployment rate in the country is still too high and the inflation is too low. Support for the EURUSD is seen at 1.3625 and resistance is seen at 1.3730. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.
EURUSD remained stable after S&P downgraded the AAA credit rating of the Eurozone
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