Binary Options Daily Analysis – S&P Due to Downgrade Several European Countries.

The week closed on an up note in Asia, best forex robot free download as the region’s markets traded mostly higher. The Nikkei rallied 1.4% to 8500, the Kospi gained .6%, and the ASX 200 rose .4%. In greater China, the Hang Seng edged up .6%, while the Shanghai Composite fell 1.3%, following the release of a report which revealed a drop in China’s foreign exchange reserves.

News that S&P was due to downgrade the credit rating of several European countries pressured the region’s markets. The FTSE lost .5%, the DAX dropped .6%, while the CAC40 edged down .1%. It is expected that France and Austria will be downgraded by one notch, while Spain and Portugal will drop 2 notches. Adding to the debt pain, the forex robot a breakdown in negotiations between Greece and holders of its debt could spell major troubles for the Euro zone.

US stocks fell moderately as well. The Dow lost 49 points to 12422, while the Nasdaq, and S&P 500 shed .5%.

JPMorgan reported earnings that on revenue, sending the shares down 2.5%. The negative news weighed on banking shares, sending Citigroup down 2.7%, and Morgan Stanley down 3.1%.

Currencies The heavy dose of negative European news hit the single currency hard. The Euro fell as low as 1.2626, before recovering slightly, closing down 1.1% to 1.2680. The Yen, Pound, ea robot forex free download and Australian Dollar all declined a mere .1%, which the Canadian Dollar dropped .4% to 1.0230. The Swiss Franc eased .2% to 1.0506.

Economic Outlook Consumer sentiment data from the University of Michigan rose to 74 from 69.9, beating estimates for 71.2. The trade deficit grew to $47.8 billion, a significant increase from last month’s $43.3 billion deficit, hitting its highest level in 5 months.

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