Important notes and date to mark down for this week

S&P to place all 17 Euro nations on rating downgrade watch

US ratings agency to place Euro nations on "credit-watch negative". They are suspecting that there is one-in-two chance of a downgrade within 90 days.

France, Germany, the Netherlands, Austria, Finland, and Luxembourg, all tripe-A members of the euro zone, may be stripped of their AAA credit ratings as a result of deepening economic an polictcal turmoil.
Friday Dec 9th 2011, European Union leaders will meet and announce what they planned to do about the current economic crisis. We currently see optimisim in the market in hope that the European leaders will be able to quickly move to an agreement on a fiscal pact.'
Depending on what the European Union will announce on Dec 9th, we may see the price of gold move to the upside and break resistance. Keep an eye on Gold.
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