Forex News and Rumors – Afternoon Update

DOW Breaks 9,000

For the first time since last January, the Dow Jone Industrial Average broke the 9,000 mark. More

Dollar Tumbles as Risk Aversion Abates

A surging stock market and better-than-expected earnings reports prompted investors to embrace riskier investments at the expense of the dollar pushing the greenback to a seven-week low. By 1:30 PM in New York today, the dollar traded at $1.4236 per euro after reaching $1.4291 earlier in the day. More

US Home Sales Rise 3.6% in June

The National Association of Realtors said today sales of previously-owned homes rose by 3.6 percent in June. This is the third month is a row that sales have increased. More

Bank of Canada Says Recession All But Over

The Bank of Canada said today that the recession in Canada will end before the end of the quarter.

“With the economy supported by better financial conditions and higher levels of business and consumer confidence than anticipated, the downturn in activity in the first half of the year has been less severe,” the bank said in its Monetary Policy Report. “And growth is now projected to turn positive in the third quarter.” More

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