In contrast to gold and silver, some traders feel that the platinum market has not reflected hope for a near-term Euro zone debt solution, and is instead reflecting ideas that the US is headed into a recession and that more US quantitative easing from the Fed will be of very little macro economic comfort. Platinum prices might also have been pressured by negative private price forecasts that were floated overnight by a European brokerage firm. Other traders feel that markets like platinum and copper need a distinct improvement in global macro economic expectations just to overcome the current pressure on prices. A major credit ratings agency downgraded Italy's sovereign debt by three levels with a negative outlook, which may lead to increased investment platinum demand from the Euro zone during the near future.