Forex News and Rumors – Afternoon Update

Canadian Dollar Gains on US Dollar

The Canadian dollar matched a ten-month high against its US counterpart today, reaching $1.0694 per U.S. dollar.

“There seems to be decent fundamental demand for riskier currencies,” said Adam Cole, London-based global head of currency strategy at RBC Capital Markets Inc., a unit of Canada’s biggest bank. “As uncertainty lifts, you’re seeing currencies peel away from equity markets and do their own thing. More

Treasury to Auction $75 Billion

The Treasury Department said today that it intends to raise a record $75 billion through a series of auctions next week as it seeks to deal with the government’s ballooning debt. More

Oil Prices Fluctuate on Mixed News

A mixed bag of economic news from the US pushed oil down to $71.01 a barrel before recovering somewhat to $71.42 in New York today. More

Canadian Job Losses Continue to Mount

Despite evidence that Canada is leading the G8 countries out of the recession, job losses continue to mount and it is expected that Friday’s Statistics Canada report will show another 17,500 jobs were lost in July pushing Canada’s total unemployment to an 11-year high of 8.8 percent. More

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