Chinese Banks Move to Limit FX Transactions with U.S. and European Financial Companies
Citing concerns over continued tightening of the global credit markets, Chinese banks are scaling back interactions with international firms in the interbank market.
Asian Currencies Fall Over Uncertainty with U.S. Bank Rescue Plan
As talks continue in Washington, Asian currencies continue to fall over fears that a recession in the U.S. will reduce demand for exports.
Actual Growth in Second Quarter Down From Original Estimate
The U.S. Commerce Department lowered second quarter Gross Domestic Product (GDP) numbers to 2.8% from its initial 3.3% estimate a few weeks ago.
Buffett Urges Congress to Pass Bail-Out Plan
America’s top investor lobbied Congress to pass the bill to provide funds to take billions of dollars of toxic sub prime debt off the balance sheets of the nation’s financial institutions. Citing that Congress must “do the right thing”, Warren Buffet urges to act now and “let historians decide [later] who to blame”.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.