Forex News and Rumors

Obama Announces New Job-Building Projects

Acknowledging that the economy still has “a long way to go”, President Barack Obama announced a total of ten new projects designed to create or save 600,000 jobs. The money to fund these projects will come from the $787 billion stimulus bill approved in February. More

Oil Futures Under $68

Oil for July delivery fell by 85 cents to $67.59 in European trading on the New York Mercantile Exchange this morning. Growing concerns that the oil market is overpriced given economic realities pushed the price down from last week’s high which at one point touched $70.32 before pulling back. More

Canadian Dollar Loses Steam as Oil, Equities Fall

The Canadian dollar’s rapid increase over the past few weeks was set aside today as falling oil prices and commodities – which are important Canadian exports – brought the Canadian buck down to C$1.1218 to the US dollar from Friday’s close of C$1.1190. More

S&P Cuts Irish Republic’s Debt Rating

For the second time in a year, Standard & Poor’s has downgraded the Irish Republic’s debt rating by one ranking to AA from AA+. More

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