Forex News and Rumors

New US Jobless Claims Climb to 627,000

The US Labor Department said today that the number of new jobless claims for last week was higher than expected at 627,000 new applicants. Total unemployment also rose to more than 6.7 million. More

US Stock Futures Lower on Unexpected Jobless Claims Increase

Higher than expected new jobless claims for last week have cast a chill over the stock markets with the US stock-futures index dropping 0.7 percent. More

US Economy Shrinks 5.5%

The US economy contracted at a annual rate of 5.5 percent for the first quarter of the year according to the latest Gross Domestic Product figures. More

Weak Stocks, Stop-Losses Pull Down Canadian Dollar

The “loonie” as the Canadian dollar is known, lost just over half a cent to the US dollar in early morning trading in New York dropping to 86.16 US cents. Weaker commodity prices and – according to Firas Askari, head of foreign exchange trading at BMO Capital Markets – the triggering of stop-loss orders explain the drop.

“I think the Canada (dollar) just has some weak Canadian dollar longs that are getting stopped out,” Askari said in a client briefing note. More

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