Market Overview

ForexLive Americas Wrap: UK Still Has a AAA-Rating

Cable falls on downgrade rumor
NAHB home builder sentiment 46 vs 48 exp
Obama applies fresh pressure on Republicans to avoid cuts
Canadian Dec wholesale sales -0.9% vs -0.4% exp
Belgian consumer sentiment improves to -17 from -23 in Jan
SNB's Jordan: Will continue to enforce cap with utmost determination
Fed's Lockhart says bond buys should continue through year end
EU car registrations hit record low
S&P 500 hits 5-year high, gains 0.7%
Cable hits 7-month low
AUD leads, GBP lags

A rumor that S&P would downgrade the UK today weighed on sterling throughout trading on Tuesday. An initial bounce to 1.5480 was quickly wiped out as the pair fell as low as 1.5415.

The euro gained a half-cent in US trading. Buy stops were run on breaks of 1.3370 and 1.3380 but offers ahead of 1.3400 have capped the move so far. More stops above 1.3405.

USD/CAD nudged to a six-month high of 1.0138 after the soft manufacturing data but the upbeat tone in stocks minimized the damage.

Gold bounced from $1600 but was down $5 on the day to $1605.

Canadian Dec wholesale sales -0.9% vs -0.4% exp

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets Trading Ideas

 

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