Forex News and Rumors for September 5th, 2008-Updated 10:15 AM

Crude Retreats as Dollar Rebounds

As oil dips below $107 a barrel, OPEC hints that it may adjust production levels in a bid to prevent prices from dropping below $100 a barrel. A decision is expected to be made at a meeting of OPEC producers next week.

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Main Bank of China Is in Need of Capital

After buying more than 1 Trillion in US Bonds and mortgage backed debt the Chinese Central Bank needs an injection of capital.

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Loonie Rises on News of Employment Gains

The Canadian dollar rose with news that more jobs were added in August than initially predicted. Over 15,000 new jobs were created after two months of losses.

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Technical Analysis Suggests Euro May Continue to Fall

Citigroup analysts feel that euro could close below recent support levels.

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NFP Report Expected to Show Further Job Losses – Updated – 8:41 AM

U.S. unemployment jumped to 6.1% for the month of August with the loss of 84,000 jobs. The manufacturing sector was particularly hard-hit with over 60,000 positions lost, pushing unemployment to its highest levels since December 2003.

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