Standard & Poor's have said they will downgrade France, Italy and Portugal this afternoon, after markets have closed. There are also reports from the FT that Austria will be demoted and a French TV station is reporting that S&P have already dropped the French by a notch.
South Africa has not been so luck yand has been downgraded during this afternoon's trading session by fitch to negetive Outlook.
"Pause for reflection on Greek debt swap" as nothing has been agreed in IMF, EU, private sector negotiations
Large Movements already on the markets, with key support levels being tested and passed on a range of currencies versus the dollar, on the back of the announcement with large moves thought to take place in Asia on Sunday night as fear and Risk Off trades push most currencies and equities onto the back foot.
We will see how quickly gold and silver will rise in the next few hours.
London, 18/10/11
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The current global market is looking decidedly shaky and once formidable currencies such as the dollar are suddenly no looking like the safe haven they were once regarded as.With no part of the world handling their economy with aplomb,...
With gold closing last week down almost 10% and silver approximately 26%, the metals have certainly lost their shine, once again pitted to ridicule. This correction has been sharp and horrific for new investors, leaving questions as to what...
A round up for this week.
Gold and the shares have been particularly volatile this week as speculators and investors have been contending with a plethora of news from Europe, forcing traders to make quick and sometimes rash decisions,...
