Moody's downgrades Australia. Four major banks of Australia were downgraded from Aa1 to Aa2, with the agency also cutting its view on the bank's subordinated debt to Aa3 from Aa2, as well as the financial strength rating from B to B-. As Moody's stated the cut downs reflect their view of Australian Banking.
Also, Labour Price Index was released earlier this morning in Australia at 0.8%; down from 1.0% and lower than the market expected 1.2%.
AUD/USD is currently trading 1.0623. EUR/AUD is at 1.3429.
The euro seems to pick the pace up as it keeps off its 7-week low against the greenback. The pair is currenctly trading at 1.4266. The eurozone currency fell to a low of 1.4050 which marked a low since March. Before its downfall, the euro strengthened against the dollar reaching a high of 1.4950 marking 3 year lows for the dollar.
MegaTraderFX - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.
All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. MegaTraderFX bears no responsibility for any trading losses you might incur as a result of using any data within the MegaTraderFX.
