Forex News and Rumors for October 3rd, 2008

U.S. Factory Orders Fall by 4%M

The Institute for Supply Management (ISM) report shows that factory orders declined by 4% for the month of August.

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£300 Million Plan Scrapped

A £300 million rescue plan similar to the U.S. plan proposed by President Sarkozy of France has been scuttled as news that Greece has followed Ireland’s lead in guaranteeing the full amount of investor deposits in a bid to stem mass withdrawals.

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U.S. Job Cuts 160k Position in September

U.S. Employment Reports show that employers reduced jobs by 159,000 positions in the month of September – the highest single-month cut in five years.

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