Forex News and Rumors for October 15th, 2008

Falling Crude Pulls Down the Loonie

As crude prices continue to fall – dropping below $75 a barrel on Wednesday – the Canadian dollar also lost ground to the greenback. Canada relies on commodities and oil in particular, for nearly half of its export value.

Read the full article

Citigroup Analyst Predicts Euro to Continue Losses Against Yen

Citigroup Global Markets announced today that a protracted credit crunch will lead the euro to a 12 to 13% loss against the yen as investors opt for the greater safety offered by the yen.

Read the full article

UK Inflation Tops 5%

September inflation results for the United Kingdom as measured by the Consumer Price Index, climbed to 5.2% up from 4.7% a month earlier. This far exceeds the 2% growth target established as part of the country’s monetary policy goals.

U.S. Retail Sales Drop by 1.2%

U.S. Retail Sales continued to slide in September in the face of growing consumer uncertainty and fears of a deepening recession.

Read the full article

EU Ponders Higher Bank Guarantees

In a move to instill greater confidence in the Eurozone banking system, the European Commission has proposed boosting the minimum guarantee on bank deposits from the 50,000 euros to 100,000 euros.

Read the full article

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.