The Robot Forex team was not surprised to learn of Standard & Poor's recent downgrade of the United States's ability to pay back its ballooning debt, which has now reached over 14 trillion dollars. The news of this downgrade quickly rattled European and U.S. markets, which lost between 1% and 3%. Gold reacted little to the news, while oil dropped over 3% since the report was released. The oil sell-off can also be attributed to an oil minister from Saudi Arabia who reported an overall decrease in oil output last month. His reason for this decrease was due to an over-supply of crude on the markets. Agricultural commodities, such as corn, soybean, sugar, and wheat increased with an expectation of continued erosion of the purchasing power of the U.S. dollar.
With continued uncertainty about the health of the US and Euro-Zone economies, there continues to be a lot of volatility between the Euro and USD. As the Robot Forex team has pointed out many times throughout our site, the biggest benefit of trading on Forex is that there is always room for profitability. Robot Forex members will continue to review the latest automated Forex Robot systems for traders and supply you with important financial and economic news updates on a nearly daily basis.