Forex News and Rumors – Afternoon Update

Morgan Stanley Bets Canadian Dollar to Beat US Dollar

Describing the Canadian dollar as an “outperformer”, Morgan Stanley analysts advised investors to short the US dollar in favor of the Canadian dollar. More

Canadian Home Sales Jump 11.2% in April

The sale of existing homes in Canada increased for the third month in a row with a 11.2 percent boost in April. More

Credit Card Default on the Rise

Credit card default continues to climb in the US with both Citigroup and Wells Fargo experiencing client default rates in excess of 10 percent. More

GM To Cut 1100 US Dealerships

General Motors piled on yesterday’s announcement from Chrysler that it planned to eliminate 800 dealerships with its own announcement that it too would be cutting. In this case, 1,100 “underperforming” dealerships are slated for the chopping block. More

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