Forex News and Rumors

After a losing start on Thursday, the DOW Jones industrial closed the day up 552 points; at one point, the index fell to just under 8,000 but ultimately closed at 8,835. After such a wild day, you can expect some profit-taking today, and this combined with more gloomy news may see investors sitting on the sidelines.

While it really comes as no surprise, the Eurozone, having recorded two consecutive quarters of negative growth, is now officially in a recession and England will likely be in the same boat once the figures come in. In the U.S., Retail Sales fell a record 2.8 percent in October and now Federal Reserve Chairman Ben Bernanke is hinting at further rate cuts – the street is betting on a half point cut by the end of the year bringing the federal funds rate to 0.5 percent.

Yen Gains on Dollar and Euro

The yen continues to appreciate in value over the dollar and the euro as investors stick to a strategy of dumping assets funded in Japan in response to a worsening economic crisis. More

Eurozone Follows Germany into Recession Territory

Just one day after Germany announced it had slipped into a recession, the European Central Bank confirms that the entire region is officially in a recession. More

G20 Nations to Meet in Washington

Leaders of the G20 Nations – which account for 85% of the global economy – will meet in Washington to discuss strategies for dealing with the global financial crisis. More

Freddie Mac Loses $25B in Third Quarter

Mortgage giant Freddie Mac lost $25.3 billion in the third quarter losing $19.44 a share. More

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.