Forex News and Rumors

EU Economies Expected to Shrink 4% This Year

The European Commission released a prediction today that the EU economy will shrink by 4% this year; the same report also said that unemployment could near 11% by the end of the year. More

China’s Manufacturing Posts First Gain in 9 Months

China’s 4 trillion yuan ($US 586 billion) stimulus package appears to have made an impact as the China Purchasing Manager’s Index (CLSA) rose to a seasonally-adjusted 50.1 from 44.8 in March. This is the first increase in the index in nine months. More

Stock Markets Headed for Gains

Markets were up in Asia and Europe today and the momentum is expected to carry through for the start of trading in North America. Investors are hoping that May can match the gains experienced in April which was the best single-month performance in nine years. More

US to Target Businesses Tax Havens

President Barack Obama is expected to announce today new legislation designed to minimize the appeal of offshore tax havens some US companies use to reduce their tax expenditures. If implemented, the move is expected to add over $86 billion to overall tax revenues by 2019. More

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