- FXFINPRO Capital newsletter
22.08.2014 - Fitch has kept the United States rating
Fitch Ratings has confirmed long-term credit rating of the United States - "AAA" and left it with a stable outlook. The main reason for the highest rating is the steady improvement in macroeconomic indicators. Despite the slowdown in the construction sector and the economic slowdown in the first quarter, the United States continues to show one of the best economic growth rates among developed countries. During the first 11 months of the financial year the budget deficit the United States has decreased by 22% due to the increase in tax revenues. Another reason to save the rating served as a strong position of the dollar, which has strengthened in recent months.
We expect further strengthening of the dollar against other major currencies, but the potential for further growth of the American stock market is limited and therefore we expect a correction by 10-15% in the medium term.