Forex News and Rumors – Afternoon Update

ECB to Offer Banks Cheap Loans

European banks are lining up to take advantage of a loan offer from the European Central Bank. The offer – intended to inject more cash into the economic system – consists of one year loans of any currency at the record low rate of 1.0 percent. More

Oil Falls Below $67 a Barrel

Oil futures for August delivery fell by 34 cents to $67.16 a barrel in mid-afternoon trading in New York today. More

US Home Sales Disappoint

The National Association of Realtors said today that home sales rose 2.4 percent in April for a seasonally-adjusted annual rate of 4.77 million. The results were below predictions suggesting that a “meaningful recovery” in the housing market is yet to materialize. More

Moody’s: US Credit Rating “Remains Solid”

Pierre Cailleteau – Managing Director of sovereign risk at Moody’s Investors Service – said today that the US government’s Aaa credit rating “remains solid” and that the US dollar will not likely lose its title as the world’s reserve currency. More

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