Today Moody’s Investors Service announced that Spain’s credit ranking was placed on review for a possible downgrade. Moody’s is the last one of the three major rating agencies which gives Spain top rating. Standard & Poor’s cut this country’s grade from  AA+ to AA with a negative outlook. That was back in April. Fitch followed [...]

The Japanese Yen staged a nice rally today, breaking through hourly and intermediate support levels on charts of Yen pairs. This was the “flight to safety” event, with the Euro and the Commodity Dollars being dumped and this spilled over to other markets. Media stated so many reasons behind these moves, that one can a pick [...]

Amid protests and riots, the G-8 and G-20 (too many of these G groups) meeting is coming to an end in Toronto. Lots of talk, little results, as always, and currencies were even officially discussed. Strange, because the summit was clearly overshadowed by Chinese decision to un-peg the Yuan from the Dollar, announced few days before. [...]