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- Asian session: Standard & Poor’s cut Spain’s long-term sovereign credit rating
Asian session: Standard & Poor’s cut Spain’s long-term sovereign credit rating
02:00 China PPI y/y September +6.5%
The euro fell against the yen for a second day after Standard & Poor’s cut Spain’s long-term sovereign credit rating to AA- from AA with a negative outlook. The nation’s rating has been lowered by S&P three times since 2009, when the country lost its AAA status. A jobless rate as high as 21 percent may weigh on private consumption. But later the euro advanced against the dollar and yen before Group of 20 finance ministers meet and policy makers discuss plans to tackle Europe’s debt woes.
The Australian and New Zealand dollars headed for weekly gains.
EUR/USD: on asian session the pair fell, but restored later.
GBP/USD: on asian session the pair fell, but restored later.
USD/JPY: on asian session the pair traded in range Y76.85-Y77.00.
On Friday main focus will be EU trade balance and HICP at 0900GMT and US retails sales at 1230GMT.
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