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Forex News and Rumors

UK Industrial Production Down 1.7%

UK industrial production [1] declined by 1.7 percent for the month of October, while output by manufacturers fell by 1.4 percent marking eight consecutive months of reduced output. More [2]

Trichet Hints Rate Cut in January Not Likely

Suggesting that the rate cuts already made still “need to be transmitted… to the real economy”, European Central Bank [3] President Jean-Claude Trichet [4] appears to be suggesting that no further cuts are planned on the heels of the 75 basis point cut delivered by the ECB last week. More [5]

Bank of Canada Expected to Cut Interest Rates Today

The Bank of Canada is expected to cut borrowing costs to 1.75 percent at 9:00 am EST today. This will match interest rates not seen in Canada since 1958. More [6]

Oil Prices Fall on Profit-Taking

One day after a jump in world oil prices of more than $3.50, prices are headed down today on apparent profit-taking as traders weigh-in on possible production decreases expected to result from an Organization of the Petroleum Exporting Countries (OPEC) [7] meeting in Algeria later this month. More [8]

US Government Expected to Take Shares in Detroit Three

While final details are still being hammered out, it is expected that in return for a financial bailout consisting of billions of dollars of taxpayers money, the US government will receive stakes in General Motors, Chrysler and Ford Motor Company. The plan calls for the Treasury Department to receive warrants for stock equivalent to 20 percent of the amount of the government loans offered. More [9]

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Scott Boyd
Scott Boyd

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