Forex News and Rumors – Afternoon Update

US to Unveil Financial Rescue Plan on Feb, 9th – Geithner

U.S. Treasury Secretary Timothy Geithner will deliver a speech on February 9th that outlines President Obama’s financial recovery plan. More

Strong Day on Wall Street Causes Yen to Retreat

With the Dow Jones up just over one hundred points for the day, investors turned to the dollar primarily at the expense of the yen. More

Canadian Dollar Gains as Commodities Rise

A rebound in commodities including crude oil helped push the Canadian dollar up 0.4 percent on the U.S. dollar. More

U.S. Refineries Cut Back on Production to Boost Profits

With oil prices languishing in the $40 a barrel range, U.S. refineries have started cutting back on production in an attempt to push up the price of gasoline. After breaking $4 a gallon last summer, prices have fallen to under $2 a gallon but have been creeping up lately. 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.