No important events are expected today.

Moody’s agency has kept the States’ rating at the investment level, but announced that the credit rating may be downgraded in the future, as the Americans have a huge budget deficit. The US Ministry of Finance did not like Moody’s decision, and the head of the agency Janet Yellen did not agree with the rating agency’s assessment.

In general, such a scenario was expected, as the Ministry of Finance will now have to hold auctions for placement of long-term government bonds with a good premium, otherwise investors will be reluctant to buy government bonds and then the Treasury will be left without money. In turn, the growth of yields on U.S. bonds will have a favourable effect on the strengthening of the dollar. On Wednesday, the Ministry of Finance will have to borrow $11.8bn from the market, and these auctions will already take place taking into account the latest decision of Moody’s.

Recommendations: Sell 1.0700/1.0730 and TP 1.0640.