Sovereign debt risks and fiscal concerns continue to dictate the underlying sentiment in Forex markets at present. Moody’s rating agency threatened to down grade Spain’s credit rating overnight weighing heavily on Euro price movement and overall investor sentiment. The euro has fallen back towards the $1.33 price level against the USD and retraced 70 pips against the GBP which now currently holds above 1.18 in early European trade. The Euro decline from yesterday highs at 1.3000 has extended below 1.2800, with the Common currency sold across the board on renewed …

National average mortgage rates are on the rise in the United States as jobless claims are improving and the economy appears to be improving.

Gold prices continue to move to new all time highs with a lower dollar this week. One ounce of gold approached $1,431 in early New York NYMEX trade Tuesday (December 7) morning and currently nets $1,429.40.

Australia’s central bank kept its key cash rate unchanged at 4.75% after its meeting finished overnight. The announcement was widely expected following a pre-emptive hike last month. Markets now expect the central bank to leave rates on hold for a few months to come. In making its statement, the RBA referred to the volatility in markets as a result of concerns about the creditworthiness of a number of European governments. It also focused on the fact that the Chinese and Indian economies have continued to grow strongly, while more developed …

Currency markets were saw mixed price movement yesterday with the Euro standing out as the key performer during the US trading session. Retracing back from a low of 1.1995 the GBP/EUR saw a corrective move of over 2 points with an overnight low at 1.1787 (support) – slighty up on the day today however price movement remains quite stable at present. It briefly broke through the $1.32 level versus the dollar trading back from a low of under 1.30 – dropping over 10 points in over 2 weeks. It then …

Watching oil prices move in the last several months has been like watching grass grow, relative to the highly volatile action during the summer of 2008. Light sweet crude oil futures currently (December 2) trade at $86.65 on the New York NYMEX, just below 2010 highs above $87, and $.10 below Wednesday’s settle price.