Forex News and Rumors

Markets in Europe and Asia Gain in Morning Trading

Stock markets in Europe and Asia are all in positive territory this morning on news that US President-elect Barack Obama will dramatically increase infrastructure spending which could possibly create 2.5 million new jobs. Hong Kong’s Hang Seng index was up almost 9 percent while Korea’s Kospi index rose 7.5% – in Europe, London’s FTSE 100 had gained 5 percent, while the German DAX and France’s Cac 40 were both up nearly 7 percent by mid-day. More

Yen Falls on Stock Market Gains

With big gains in the stock markets in Europe and Asia this morning, investors are selling-off Yen which had been seen as a “safe haven” during recent turmoil.

“Anything that brings down risk aversion and causes stock markets to rally is bad for the yen,” noted Ulrich Leuchtmann of Commerzbank AG, Germany’s second-biggest bank. More

Deal for Detroit’s Automakers Close

It appears that a bail-out plan to provide US auto makers with at least $15 billion in emergency funding is close-at-hand. The deal could see the establishment of an “auto czar” to oversee the payment of the funds and to review the efforts the companies are making to ensure their long-term viability. More

Oil Prices Back Above $40

After testing lows under $40 a barrel, oil is poised to climb today. Markets are up on news of President-elect Barack Obama’s economic stimulus plans, and this combined with expected production cuts by OPEC could see oil prices reversing. More

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