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Day: December 17, 2009
December 172009
Greek Credit Rating Pulls Euro Down
The euro had a weak performance today losing versus the greenback and the dollar after Greece credit rating was downgraded by a financial agency, bringing risk aversion up in European stock markets. After Greece’s rating second downgraded by Standard and Poor’s this year, the euro was deeply affected as concerns that several member countries using the common currency will still face complications in 2010, declining attractiveness for the euro that touched […]
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December 172009
Brazilian Real Drops on Global Pessimism
The Brazilian currency had its sharpest fall since the end of September as several negative events in financial markets worldwide declined appeal for higher-yielding assets and commodities, which are both the best trading possibilities in the Latin American nation. After the Federal Reserve declined possibilities of interest rate hikes sooner than previously expected and Standard and Poor’s downgraded Greece’s credit rating for the second time this year, appeal for emergent-markets and higher-yielding currencies […]
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December 172009
Retail Sales Force Pound Down
An unexpectedly negative retail sales report published today in London forced the pound down versus several currencies as it indicates that economic struggle in the country is still a reality in the U.K., shunning investors from pound-priced assets. The pound touched a two-month low versus the U.S. dollar after the Office for National Statistics published the first retraction in retail sales in the U.K. in six months, indicating that the economic recovery process in the nation will […]
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December 172009
Dollar Extends Rally on Greek Credit Rating
The dollar gained today versus the euro and specially higher yielding currencies as speculations that Greece may struggle to pay its debts surged, raising demand for safety and providing support for the greenback and the yen to be the best performers in currency markets this Thursday. The U.S. gained versus most of 16 main traded currencies after Greece, an Eurozone member country, received the second credit downgrade by Standard and Poor’s this year, decreasing attractiveness […]
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December 172009
EUR/USD Reaches Record Low on Greece Debt Struggle
After Greece, an European Union member which adopted the euro since it was introduced, had a downgrade on its credit rating by Standard & Poor’s for the second time this year, the EUR/USD currency pair dropped to the lowest level in three months, as it signaled that not all bloc members are as resilient as Germany, declining attractiveness for the euro in currency markets. Currently EUR/USD is falling at 1.4358. Initial jobless claims […]
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