Forex News and Rumors – Afternoon Update

Yen Advances Against Dollar

The yen gained on the dollar on growing expectations that investors will start paying back low-cost loans in Japan in order to close-out carry trades. More

G-20 Calls for Interest Rate Cuts and Increased Spending

As the threat of a global recession looms, members of the G-20 meeting in San Paulo called for more interest rate cuts and increased government spending to fend off slowing economies.

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Australian and New Zealand Dollars Advance on News of China’s Recovery Plans

Both the Australian and New Zealand dollars gained today after China announced nearly $600 billion in spending plans to boost its economy. As key exporters to China, Australia and New Zealand are expected to benefit from increased production. More

Oil Rebounds After China Announces Recovery Plans

The price of crude rose by a dollar a barrel today on news that China’s government will spend $586 billion over the next three years with some of this money earmarked to development projects that could lead to increased demand for energy. More

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.