Forex News and Rumors

US Stimulus Money Funds Operations – Not New Investment

A report issued by the Government Accountability Office shows that most of the $787 billion supplied by the Federal government to jump-start the economy, is being used by many states mostly to cover shortfalls in operational costs and not to build new infrastructure projects such as schools as originally planned. More

IMF Predicts Slow Recovery

The International Monetary Fund (IMF) released an updated outlook suggesting that the global economy will perform slightly worse in 2009 than earlier predicted; the IMF now believes the world economy will contract by 1.4 percent in 2009 rather than its earlier estimate of 1.3 percent. More

Oil Drops Below $62 a Barrel

Renewed fears that the global economy is not recovering as quickly as previously hoped seems to have stalled the crude oil rally. U.S. light crude for August delivery dropped $1.16 to $61.77 a barrel from 62.93 a barrel on Tuesday, ending a fifth straight day of losses. More

UK Banks to Face Greater Oversight

Chancellor of the Exchequer Alistair Darling announced today that the Financial Services Authority (FSA) will be handed greater powers to curb risk-taking in commercial banks and to levy punishment against banks and individuals who abuse their positions. More

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