Loonie escalates against US dollar and Euro after S&P announcement

Note: This section contains information in English only.
Source: Bloomberg
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On Monday Canadian dollar appreciated both against greenback and Euro after S&P reported it may downgrade 15 euro area countries. Canada's national currency increased 0.3% against its US peer to C$1.0165 per USD and surged 0.2% versus euro reaching C$1.3623. Canadian dollar extends gains as investors perceive the country as one the few safe havens. USD/CAD currently is trading at C$1.0185 while EUR/CAD is trading at C$1.3611.                 

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Tue, 06 Dec 2011 12:00:33 GMT

Japan's Nikkei 225 declines on investor fears about Europe's downgrading

Japan's Nikkei Stock Average lost 1.39% or 120.82 points on Tuesday and closed at 8,575.16 amid worries created by Standard & Poor's that European countries may face downgrading. Most Japanese financials weighted down on the index as Nomura Holdings Inc. and Mizuho Financial Group Inc. both traded down 1.9%. Metal-sector companies also contributed to Nikkei 225 depreciation as Sumitomo Metal Mining declined 1.8% while JFE Holdings

Tue, 06 Dec 2011 12:02:31 GMT

Merkel and Sarkozy respond to S&P move

French President Sarkozy and German Chancellor Merkel released a joint statement yesterday saying they respect and take into account S&P decision. Nevertheless, both leaders insisted that tighter fiscal alliance and stricter control of national budgets and economic policies will promote financial stability growth across the region. 

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