Forex News and Rumors – Afternoon Update

Oil Retreats on Weaker Demand

Oil for August delivery closed in New York today at $69.14 a barrel amid weaker demand and profit-taking. More

Canadian Dollar Hit by Oil Prices

Oil dipped below the $70 a barrel mark today pulling the Canadian dollar down as well. The “loonie” as the dollar is known, fell to C$1.1497 per US dollar at 1:00 PM in Toronto today, down from yesterday’s close of C$1.1352. More

FSA to Receive Greater Powers

A new banking act put forward by British Finance Minister Alistair Darling, will give the Financial Services Authority (FSA) greater control in regulating banks and the British banking system. More

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.