Italy's big win | 20 November 2023

20 November 2023, EUR/USD

Italy's big win

EURUSD trading plan:

Italy is no longer in danger of a cut to junk at Moody’s Investors Service, which raised its rating outlook to stable in a huge win for Prime Minister Giorgia Meloni. The country’s assessment was kept at Baa3, the lowest investment grade, but the company removed the threat of a downgrade after more than 15 months with a negative view instituted just before the populist premier won power. The change in outlook removes a sword of Damocles that has constantly overshadowed Meloni and her one-year-old coalition. It offers the premier a pay-off for her gamble in September to deliver on promises to voters with a loosened fiscal stance despite an intensified focus on the public finances by Moody’s. This is a positive signal for the European currency.

Investment idea: buy 1.0892 and take profit 1.0940.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .