Forex News and Rumors

Dollar Falls Against Euro

The US dollar continued to struggle against the euro falling under $1.36 for the first time since March.

“The prevailing flow now is negative for the dollar, negative for the yen, positive for the commodity-linked currencies and higher yielders,” said Michael Woolfolk, senior currency strategist at Bank of New York Mellon in New York. More

US Banks to Sell Shares to Pay Gov’t Loans

US Bancorp, Capital One Financial Corp, and BB&T Corp. intend to offer additional common stock to raise money with which they plan to repay funds they received under the Treasury Department’s Troubled Asset Relief Program (TARP). More

Oil Retreats From Last Week’s Highs

Crude oil for June delivery pulled back from its high of last week to under $58 a barrel to $57.85 in afternoon trading in Singapore. Oil has been tracking steadily upwards despite a 19-year high in oil inventories in the US.

“Oil has been strongly influenced by stocks lately,” said Victor Shum, energy analyst at consultancy Purvin & Gertz in Singapore. “Investors are counting on a global economic recovery to boost demand.” More

China’s Consumer Prices Continue Fall Another 1.5%

Consumer prices in China continue to fall with April results showing a 1.5 percent decline. This follows on a 1.6 percent drop in February and a 1.2 percent decline in March. 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.