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Moody’s Places Italy on Review for Downgrade

Moody’s places Italys AA2 ratings on review for possible downgrade.

Moodys on the Wires


  • Any downgrade of the US over debt ceiling impass would most likely be AA range
  • If US debt limit is raised and default avoided AAA rating will be maintained
  • Heightened polorization over the debt limit has increased the odds of a short lived default
  • Moodys may delay action if US debt limit raised short period

Bobbys Corner-Open Market-March.16.2011

bob-slade-forex-trading-6-150x200Good Morning:

We start this morning with news that Japan’s  nuclear reactor meltdown is still being sorted out-as smoke continues to billow out of the Fukushima nuclear plant.  Fears that the containment vessel in the #3 reactor has been breached seems to be the cause of the smoke and increased radiation levels.

Bobbys Corner-Open Market-March.10.2011

bob-slade-forex-trading-5-150x200Good Morning:

Moody’s downgraded Spain from Aa2 to Aa1-with a negative outlook. 

  • Cites concerns over sustainability of Spanish govt finances
  • Sees background of only moderate Spanish growth short-medium term
  • Spain still has high vulnerability to market disruption
  • Total cost of bank restructuring likely around 40-50 blnAs expected the Bank of England left interest rates unchanged.

    World equity markets were and are lower-as are US Futures.

Bobbys Corner-Open Market-Jan.31.2011

bob-slade-forex-trading-4-150x200Good Morning:

We wake up this morning with the situation in Egypt very much on the forefront of all world news events.
Moody’s Investors Service downgraded Egyptian government debt, which was highly anticipated.  The outlook is negative, and Egyptian debt sales have been put on hold.  Egypt’s banks and stock market were closed for the second day-as tens of thousands take to the street for the 6th day of protests against President Mubarak.
Risk is off the table for now-as investors pursue safety.

Moody’s says Portugal being considered for a rating review

This they add, is whether they request bailout money or not.  Moody’s long term debt rating is A1. S&P is A+ and Fitch is also A+.

This news will be a test for the EURUSD.  A move below 1.3498 and the 100 bar MA on the 5 minute chart currently at 1.3478 (and moving higher) will be a test.  If support can hold, the longs are still in charge. If broken, it could signal further selling momentum to come.


Bobbys Corner-Open Market-Dec.20.2010

Good Morning:

As we start a new week, the euro is losing ground amid speculation that the ability for EU nations to raise fresh investment capital may be dwindling after many nations within the Euro Zone have been, or are being targeted for downgrades by the major rating companies.   Last week alone Moody’s lowered Ireland credit rating by 5 levels, and placed Greece on review for a possible downgrade .  S&P put Belgium on negative a watch list.
News that France’s AAA rating may be in jeopardy is also causing pressure on the single currency.

Asian equity markets were lower-European markets are higher (even as concerns regarding the EU’s debt issues plague the marketplace), as are US Futures at this time.

Bobbys Corner-Open Market-Dec.17.2010

bob-slade-forex-trading-7-150x200Good Morning:

We end the week with Moody’s Investor Services downgrading Ireland’s credit rating.  Moody’s downgraded Irish credit by 5 levels, with further downgrades possible.
Portuguese bonds slipped after the Moody’s downgrade. 
In a meeting in Brussels, EU leaders are about to agree to a system that would hopefully contain future debt issues from causing a crisis.

Bobbys Corner-Open Market-Dec.14.2010

bob-slade-forex-trading-4-150x200Good Morning:

The dollar gave up some ground as the Fed meets today-and speculation mounts that they may consider buying more bonds to bolster the faltering US economy. Moody’s made comments that President Obama’s agreement to extend tax cuts may raise the chance of a negative outlook for the US’s Aaa rating.

Fed rate decision and comments at 2:15 PM this afternoon.

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