Ask an environmental economist what they would do about climate change, and more than likely they’ll tell you to put the right price of carbon emissions and let markets do the rest.
The rating agency Fitch has released its report for North America. It rates the North American countries as stable, including the US. The US debt has been growing and it is in record levels, but Fitch says that the financing flexibility balances the risk of a growing debt. Below are some of the highlights from the report:
The consolidation pattern for January WTI crude oil futures between $52.00 and $50.00 continues for a third-straight session. Traded volumes are heavy, with over 425,000 contracts changing hands for January alone. In the wake of today’s positive EIA crude oil stocks report, energies players are taking a bearish stance towards global oil.
EUR/USD has turned pretty bearish in the last two months. It made a decent retrace from mid August until mid September but it failed to break and hold above the 1.18 level, so this pair turned bearish in September and it continued down for two months with some pretty weak retraces during this period.
Although a decent retrace is now under way. EUR/USD finally broke below the 1.13 support level last week, which was a major break since that level has been a long term support and resistance level. But before breaking 1.13, EUR/USD broke below another major level at 1.15.