Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.
China’s financial markets quickly brushed off Moody’s Investors Service’s decision to cut its rating on the nation’s debt for the first time in almost three decades, with stocks, bonds and the currency little changed.
The Central Bank of Nigeria (CBN) yesterday injected another $186.5 million into the foreign exchange (forex) market, primarily targeted at the invisible and the Wholesale Secondary Market Intervention Sales (SMIS) segments.
Ngozi Okonjo-Iweala, former minister of finance, says growth and development cannot be achieved when a country has distortions in its foreign exchange rates.
CARACAS, (Reuters) – Venezuela yesterday announced a new foreign exchange auction mechanism to complement its currency control system, the fifth such plan in four years by a socialist government that has repeatedly balked at reforming its state-led economic system.
A surprise sovereign downgrade of China by Moody’s sees iron ore collapse taking the Australian Dollar with it.
Next trading day's important events
- USDJPY: 111.86
- EURUSD: 1.1190
- S&P 500: 2399.34
- NASDAQ: 6140.75