Aussie downgraded by one notch
Wednesday, 18 May 2011 11:55
Moody’s downgrades Australia. Four major banks of Australia were downgraded from Aa1 to Aa2, with the agency also cutting its view on the bank’s subordinated debt to Aa3 from Aa2, as well as the financial strength rating from B to B-. As Moody’s stated the cut downs reflect their view of Australian Banking.
Read MoreZEW lower than expectations
Tuesday, 17 May 2011 12:42
German leading indicator for Economic Health was released at lower than expected indicators.
Read MoreEuro recovers slighty from it’s 7-week low; GBP/USD rises after CPI news
Tuesday, 17 May 2011 12:01
The Euro kept steady above the 1.40- line, and the 7-week low since March, as it traded between 1.4129 and 1.4174 in today’s session against the U.S Dollar. The pair mostly focused at 1.4155 while it’s currently trading at 1.4178. Portuguese bailout news eased the euro’s downward spiral against the Dollar, finding support for the currency at 1.4150.
Read MoreEuro slips to 1.40- line against Dollar
Monday, 16 May 2011 12:50
Eurozone decided that it will help Portugal with a bailout package, which will most likely be approved on Monday, after the eurozone finance ministers accept and agree with Finland’s conditions. Portugal’s loan sums to a 78 billion euro price tag. Interest rate on the 78 billion euro Portuguese debt which will be decided by the ministers, would be between 5.5% and 6.0%.
Read MoreSwiss Producer Price Index falls by 0.1%
Friday, 13 May 2011 11:02
Producer and Import Prices in Switzerland were released with lower than expected results. 0.4% was the figure expected to be released today for Swiss PPI, instead the results came out at 0.3%. Price of goods and raw materials purchased by manufacturers were lower this time, when usually the figure released is greater than the figure predicted, it means good news for the currency.
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