The Australian dollar jumped against the euro after Standard & Poor’s harmed sentiment about Europe by cutting credit ratings of European countries. The Australian currency managed to erase losses against the US dollar and the Japanese yen despite the resulting pessimism.

S&P announced yesterday:

We have lowered the long-term ratings

The Canadian dollar ended the last trading session down against the US dollar and the Japanese yen, but up versus the euro, as Standard & Poor’s downgraded credit ratings of various European countries, including France, but excluding Germany.

S&P cut credit ratings of several countries of the eurozone. The rating of France and Austria was c

The South African rand was down today as Fitch Ratings changed outlook for South Africa’s sovereign credit rating to negative, reducing attractiveness of country’s assets to investors.

South Africa’s BBB+ rating is in danger as Fitch hinted that a rating cut may occur. The rating agency explained the change of the outlook by inability of the go

(eToro Blog) The rumor which spread earlier that Standard & Poor’s credit rating agency had downgraded France’s credit rating has now been reported by French television. Attempts to contact a representative from the French government have been thus far unsuccessful.

Late last year, S&P had cautioned the Eurozone’s leadership that a d

The South Korean won gained today as the nation’s central bank maintained its main interest rate to rein inflation and support country’s economic growth.

The Bank of Korea left its key interest rate at 3.25 percent. Such decision was expected by market analysts. BoK Governor Kim Choong Soo explained after the policy meeting, which was held today in

(eToro Blog) Wall Street took a tumble today as J.P. Morgan posted 23% drop in fourth quarter earnings as revenues shrank. Investor look at J.P. Morgan to set the tone for the rest of financials as it is the first major bank to post quarterly results. The Dow is down 153 points, the Nasdaq is down 33 points and the S&P 500 is down 17 points

Even though the trade deficit unexpectedly widened in November, the US dollar is moving higher today. For the most part, US dollar is gaining as uncertainty prompts a certain degree of risk aversion. With rumors of an imminent French downgrade, a disappointing Italian debt auction, and worries about banks, it is little surprise that safe havens