Forex News and Rumors – Afternoon Update

US Consumer Confidence Slides in August

A index-based survey measuring consumer confidence fell from 63.2 in July to 62.1 during the first week of August, the lowest reading for the index since March. More

Euro Tumbles Against Yen, Dollar

The euro fell to both the yen and the dollar today losing 1.3 percent to 134.69 yen as of 12:21 p.m. in New York, from 136.46 yesterday. Against the dollar, the euro fell 0.5 percent to $1.4216, from $1.4292. More

Fears Grow that Weak Consumer Spending Will “Short-Circuit” Recovery

Stocks fell in New York late Friday as fears grow that nervous consumers will divert more cash to spending, thus “short-circuiting” an early economic recovery. More

Crude Prices End Week on Down Note

Energy prices fell late Friday in New York, losing four percent and closing at 67.44 a barrel. In London, Brent Crude prices fell $1/13 to $74.35 a barrel. More

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