www.bforex.com: USD Takes a Step Back

Portugal’s Sovereign Debt was decreased to junk status by Moody’s Ratings Service on Tuesday.

This puts the European Debt Turmoil directly into focus for nervous investors.

Information from Europe and the States yesterday also proved unsatisfying.

The Usd gained against the EUR. Gold crafted a strong display and the AUD got back its momentum.

Investors will be looking forward to tomorrow’s ECB monetary policy meeting and the ‘confidence game’ ECB President Trichet will be forced to engage in during his press conference.

German Factory Orders data will be published today and the U.S. will see the ISM Non-Manufacturing PMI looking at.

Wall Street submitted varying outcomes on Tuesday as investors proved careful with numerous questions encompassing the global economy and fresh new inquiries originating from Europe and the status of their financial well being.