Forex News and Rumors – Afternoon Update

Oil Falls on Weak Demand

Over half a million jobs have been lost in the US in the past month serving as just one more sign of the weakness in the US economy. As a result, crude oil for January delivery fell $2.62 (or 6 percent) to $41.05 a barrel at the close of trading on the New York Mercantile Exchange. More

Canadian Dollar Falls Nearly 2 Percent

A very weak employment report today forced the Canadian dollar down 1.9 percent from yesterday’s close to $1.3007 per US dollar. Some analysts suggest the dollar could fall to 1.25 per US dollar by the end of the year. More

China and US Pledge $20 B to Strengthen Trade

China and the US today agreed to contribute a combined $20 billion to promote trade between the two countries. More

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