Credit rating agency Moody’s announced that it’s putting Spain under review for a downgrade – Spanish bonds might lose their AA1 rating, which is one level under the highest. This is taking its toll on the Euro. Spanish bond yields for 10 year notes opened higher, at 5.56%, already very close to the peak reached at the height of the Irish crisis. While the bond buying efforts of the ECB focused on Portugal, the “next domino”, Spanish bonds ticked higher every day. The Spanish government says it doesn’t need aid. The current EU / IMF bailout fund doesn’t have the sufficient capacity for bailing out Spain. Here’s what Moody’s thinks: “Moody’s does not believe that Spain’s solvency is under threat and in its base case assumptions does not expect the Spanish government to have to ask for EFSF liquidity support,” Moody’s lead analyst on Spain Kathrin Muehlbronner said in a statement. OK, they’re not in danger of insolvency, but the fact that they say it, isn’t too good. While there was lots of optimism in Europe at the beginning of the week, it now makes way for fear. EUR/USD currently trades at 1.3320. For technical levels, see the EUR/USD forecast. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD Dec. 15 – Extending Falls on Spanish Worries Yohay Elam 12 years Credit rating agency Moody's announced that it's putting Spain under review for a downgrade - Spanish bonds might lose their AA1 rating, which is one level under the highest. This is taking its toll on the Euro. Spanish bond yields for 10 year notes opened higher, at 5.56%, already very close to the peak reached at the height of the Irish crisis. While the bond buying efforts of the ECB focused on Portugal, the "next domino", Spanish bonds ticked higher every day. The Spanish government says it doesn't need aid. The current EU / IMF bailout fund doesn't have the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
