Forex News and Rumors – Afternoon Update

New Zealand Cuts Interest Rates

The Reserve Bank of New Zealand has reduced its benchmark lending rate – known as the Official Cash Rate (OCR) from 5.0 percent to 3.5 percent. More

Federal Reserve Maintains Interest Rate

The U.S. Federal Reserve voted today to keep the Federal Funds rate between zero and 0.25 percent today with only one vote against. The Fed also acknowledged that the economy continues to shrink and that it is prepared to continue using any and all tools available at its disposal. More

Pound Sterling Rebounds

At least one influential analyst is no longer so bearish on the pound. George Soros – who famously shorted the pound to the tune of $10 billion on “Black Wednesday” in 1992 and profited over $1 billion – said today that he is no longer betting against the pound. More

Canadian Government to Survive Vote

It appears that Canada’s minority Conservative government will receive the conditional support of at least one of the opposition parties enabling it to survive a critical vote that should it lose, could see the government replaced with a coalition of three opposition parties. 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.