Forex News and Rumors

Euro Reaches Record High Versus Pound

The euro reached 87.79p against the pound yesterday and some analysts predict that it is not far from reaching parity given the economic troubles brewing in the UK. More

Yen Falls on News of US Congress Reaching Auto Bailout Deal

The yen fell against both the euro and the US dollar as stock futures climbed as word spread that Detroit’s auto makers had been thrown a lifeline that will stave off bankruptcy in the near-term. More

China’s Exports Down 2.2% for November

For the first time since 2001, China has recorded a decline in exports with November 2008 dropping by 2.2 percent from the same month one year ago. Even more concerning however, is the 17.9 percent decline in imports suggesting that the Chinese economy is showing the strains of the global financial crisis. More

UK Economy Continues to Contract

The National Institute of Economic and Social Research released data today showing that the UK economy contracted by 1 percent between September and November after shrinking by 0.8 percent for the three months leading into the latest survey. This shows that the rate of contraction is actually accelerating and estimates are that the economy could shrink by more than 1 percent for the final quarter of the year. More

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.