Marketwatch EU & UK

The US Dollar finally rises after dropping earlier today due to Fitch Ratings’ decision of cutting the United States off its top-tier sovereign credit grade. The Bloomberg Dollar Spot Index currently gains 0.1% and USD/JPY drops below 143, to trade mid 142-143. EUR/USD is right where it was yesterday at this time, trading around 1.0980 level. GBP/USD remains below 1.28 and continues to trade anxiously ahead of tomorrow’s BOE decision. New Zealand Dollar continues to lose, especially after the US reported soft jobs data yesterday. WTI Crude is up 0.9% to $82.08/bbl after an industry estimate pointed to a massive drawdown in inventories, signalling that the market it is tightening.

Haven assets gained after Fitch announced the removal of the US off its top tier credit rating, leading S&P 500 Futures to drop 0.5% and EUR/USD to slip 0.01%. The international credit rating agency downgrade the US to AA+ from AAA, mentioning “repeated debt limit standoffs” with fiscal deterioration expected for the next three years.