Forex News and Rumors – Afternoon Update

Citigroup Expects Dollar to Fall With Increasing Budget Deficit

Citigroup today issued a client note saying that the US dollar will lose ground to the euro and yen as the budget deficit continues to increase with latest figures projecting a $27.6 billion shortfall for 2009. More

US House Prices Continue to Fall

The National Association of Realtors house sales report indicates that the median sale price of existing homes in the US fell in 134 of 152 metropolitan areas compared with the same time one year ago with over half of the re-sale market comprised of foreclosures and distressed properties. In total, sales fell 3.2 percent for the same time period. More

Greenspan Predicts US Housing Has Hit Bottom

Wall Street reacted positively today when former Federal Reserve Chairman Alan Greenspan suggested that the US housing markets were showing signs of a turnaround. More

Peso Retraces Recent Losses

Mexico’s peso gained back some of yesterday’s big losses as investors once again consider higher-yielding currencies on signs that the global economic crisis is easing. The peso gained 0.3 percent by noon in New York today climbing to 13.2409 per US dollar. More

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