Moody's Changes Germany's Outlook to Negative | IFCM
IFC Markets Online CFD Broker

Moody's Changes Germany's Outlook to Negative - 24.7.2012

The euro touched yesterday a two-year low versus the greenback at 1.2066 and approached a 12-year low of 88.85 against the Japanese counterpart reaching the level 94.22. Today the single currency remains under the risk of further weakening as Moody’s Investors Service cut its top-Aaa rating outlook for Germany, the Netherlands and Luxembourg. The agency referred to the rising uncertainty regarding the outcome of the euro area debt crisis, including the risk of Greece's exit from the euro area and the risk of a greater collective support from top rated economies. Moreover today the composite index for the euro area’s manufacturing and services sectors, calculated by Markit Economics, was reported unchanged at 46.4 for July, indicating the sixth month contraction. The services PMI index rose from 47.1 to 47.6, while the manufacturing index fell from 45.1 to 44.1. The euro was almost flat in Asian trading today against the dollar, at 1.2091-1.2137, before Spain sells bills.
IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

See Also

image
Follow the Market with Our Live Tools and Calendars
Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger