Forex News and Rumors

US Individual Savings on the Increase

It appears that most of the billions the US government has spent to stimulate the economy is finding its way into savings accounts rather than the economy. While consumer spending rose a modest 0.3 percent last month, the personal savings rate has jumped from near-zero last year to 6.9 percent in May. More

China Raises Dollar Issue Again

The dollar was headed downwards this morning as the Bank of China renewed its call for a “super-currency” to replace the US dollar as the world’s primary reserve currency. More

Oil Retreats on Lower Demand

Oil prices fell below $70 a barrel on falling demand losing 43 cents to $69.80 by mid-day trading in Europe. More

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