Moody’s rating agency reassured the UK and the US that they have no plans to downgrade their triple A rating, and are prepared to wait to see how the global health of the world’s economies pan out. The chart below shows cable has been in a negative trend of late.
- Russian GDP fell by 8.9% on the year, but grows 13.8% from the previous quarter
- The Euro trades higher against the dollar as concerns still persist about the health of the Greek economy. The Greek government have promised to step up efforts to reduce their deficit follow the recent downgrade to their debt rating
- Chancellor Merkel suggested that other EU countries should come to the aid of Greece
Major Economic News