Forex News and Rumors – Afternoon Update

Australian Dollar Down on Weaker Stock Prices

The Australian dollar fell today as stocks declines and a diminishing consumer confidence. Also, a report due later this week is expected to show that unemployment rose for the month of November provideing further evidence of an impending recession. More

UK Housing Problems Force Down the Pound

The pound fell to a record low against the euro this morning as UK home sales fell to their lowest level since 1978. Despite a big cut last week reducing the key lending rate to 2 percent, analysts predict another quarter point cut in January as the Monetary Policy Committee struggles to stave off a deepening recession. More

Oil Down on Decreasing US Demand

The US Energy Department forecast today that global demand for oil will decline for the first time since 1983, causing the price to fall 1.7 percent to $42.96 in early trading in New York. More

US 3-Month T-Bill Yield Falls Below Zero Percent

The yield on the three-month US Treasury bill fell below zero as investors bought government bonds as a safe haven from declining stocks and other investment vehicles. 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.