Forex News and Rumors – Afternoon Update

Oil Falls Below $40 a Barrel After Weak U.S. Jobs Report

Light, sweet crude for March delivery fell by more than $1.60 in New York today to $39.56 a barrel. Investors were clearly spooked by the reported 598,000 jobs the US economy lost in January. More

Wall Street Gains Despite Job Losses

Despite the loss of nearly 600,000 jobs reported by the U.S. Labor Department earlier today, the Dow gained more than 200 points by late afternoon in New York. More

US Dollar Falls With Rise in Unemployment

With bleak employment numbers from the U.S. this morning, the dollar fell against the euro. More

Canada also reported record job losses but the loonie as the Canadian dollar is known, managed to gain on the U.S. buck as investors hope the bad news will act as an incentive to push the U.S. Senate to pass President Obama’s economic stimulus bill. More

British Pound Gains on Dollar and Euro

Cable was seen in a positive light today as investors pushed it to 86.64 pence per euro and to $1.4783 from $1.4610. More

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