Posted on January 7th, 2009 at 3:11 pm by Scott Boyd
Oil Falls 12% on Higher-Than-Expected Supply Levels
Oil futures for February delivery fell $5.84 in New York on news that US crude oil inventories rose 6.68 million barrels to 325.4 million barrels. More
Dollar Falls on ADP Employment Report
The dollar lost 0.9 percent to the euro by mid-day trading to $1.3657 per euro after the privately-produced ADP report showed that employers were cutting jobs at an accelerated pace. More
Traders Look to Canadian Dollar... Read more »
Filed under: Forex Trading News and Rumors
Posted on January 7th, 2009 at 5:41 am by Scott Boyd
ADP Report Shows US Lost 693,000 Jobs in December
Companies in the US are shedding workers at an increasing rate with 693,000 positions eliminated in December according to the privately-produced ADP Employer Services report. The Labor Department will release official Non-Farm Payroll and Unemployment Rate reports on Friday. More
Germany Records First Increase in Unemployment in Three Years
For the first time in nearly three years, unemployment in Germany is on the increase. Unemployment for the month of December rose by 18,000 - considerably more than the 10,000 expected by indu... Read more »
Filed under: Forex Trading News and Rumors
Posted on January 6th, 2009 at 3:42 pm by Scott Boyd
Federal Reserve Minutes Reveal Rate Insight
Minutes of the most recent US Federal Reserve Meeting suggest that the Fed is prepared to mainain interest rates in the zero to 0.25 percent range for an extended timeframe if necessary. The documents also show that in addition to buying mortgage-backed securities from cash-strapped banks, the Fed was considering buying other types of securities as well. More
UK Pound Expected to Out-Perform Euro
After marking a second straight day of advances against the euro, some analysts predict that the pound will continue ... Read more »
Filed under: Forex Trading News and Rumors
Posted on January 6th, 2009 at 5:00 am by Scott Boyd
Euro Zone Inflation Falls to 1.6%
The European Union announced that annual inflation in the Euro Zone for the month of November fell to 1.6 percent from 3.2 percent for the month of October. Eurostat - the statistical branch of the European Union - noted that much of the reduction was due to lower energy costs. More
Euro Falls on Speculation of Rate Cut
With November inflation fallling to just 1.6 percent in the European Union, pressure grows on the European Central Bank (ECB) to cut len... Read more »
Filed under: Forex Trading News and Rumors
Posted on January 5th, 2009 at 2:50 pm by Scott Boyd
US Spending Falls Less Than Expected
The US Commerce Department announced that construction spending fell by 0.6 percent for the month of November - this is much less than the 1.3 percent many experts predicted. Despite this unexpected news, future outlook for construction spending remains very weak. More
Germany Working on €50 Billion Economic Package
Criticized for being too cautious with an earlier €23 billion economic stimulus package, Germany's Chancellor agreed to an additional €50 billion to help pull Europe's largest economy out of recession. ... Read more »
Filed under: Forex Trading News and Rumors
Posted on January 5th, 2009 at 5:45 am by Scott Boyd
US Dollar Benefits from Obama's Fiscal Plan
The dollar made gains on most of the major currencies on speculation that President-elect Barack Obama's fiscal stimulus plans will provide the environment needed to help the country recover from the ongoing recession. More
Aides to Mr. Obama recently stated that up to 40 percent of the value of the new administration's stimulus package could come in the form of tax relief measures. More
Crude Oil Prices Set to Rise Over Growing Mid-... Read more »
Filed under: Forex Trading News and Rumors
Posted on January 2nd, 2009 at 5:02 am by Scott Boyd
UK House Prices Fall Another 2.2% in December
The average price of a home in the UK fell another 2.2 percent for the month of December bringing the total yearly loss to 16.2 percent. More
Week UK Manufacturing Results Increases Speculation of a Rate Cut
UK manufacturing suffered its second worst month since 1992 and this has many analysts suggesting that the Bank of England will be forced to make further cuts to lending rates. More
Russia Cuts Gas Shipme... Read more »
Filed under: Forex Trading News and Rumors
Posted on December 31st, 2008 at 5:15 am by Scott Boyd
UK House Prices Continue to Fall
House prices in England fell a total of 12.2 percent for the year after posting a 1.9 percent drop for the month of November, marking 15 straight months of property value decreases. More
Ruble Hits All-Time Low Against the Euro
The Russian ruble fell to 41.6 rubles per euro and 29.3 rubles per US dollar - this represents an all-time low against the euro and the lowest it has been valued against the dollar since 2005. More
US Jobless Claims Fall
The US Labor Dep... Read more »
Filed under: Forex Trading News and Rumors
Posted on December 30th, 2008 at 5:15 am by Scott Boyd
Oil Prices Push Higher as Tensions in Mid-East Grow
Oil prices have surged 14 percent since Friday to nearly $40 a barrel as investors worry that continued fighting between Israel and Hamas could lead to supply concerns in the Middle East. More
In addition, the growing tensions have caused the dollar to decline on worries that oil supplies to the US could be affected.
Russia's Gazprom Threatens to Cut Gas Supplies to Ukraine
In an ongoing war of word... Read more »
Filed under: Forex Trading News and Rumors
Posted on December 29th, 2008 at 1:01 am by Scott Boyd
Dollar Falls on Recession Worries
The dollar continues to lose ground to the euro as we head into the final week of 2008. Several reports are due for release in the next two weeks and these are expected to show that manufacturing has declined considerably and US unemployment is expected to grow. More
Analysts Say Pound Could Recover Next Year
Several currency analysts have suggested that the pound could start to recover at least some of the 24 percent it lost to the eu... Read more »
Filed under: Forex Trading News and Rumors
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