Forex News and Rumors – Afternoon Update

Oil Gains on Auto Bailout News

The New York price for crude for January delivery rose $1.02 or 2.4 percent as investors look to Congress to approve a financial plan to protect American automakers from bankruptcy. More

UK Chancellor Concedes Recession is Likely

Appearing before a Commons committee earlier today, Chancellor of the Exchequer Alistair Darling described the current economic conditions in Britain as “difficult” and that it is likely that the British economy will enter into a recession that will last until the second half of next year. More

Recession in Japan Deeper Than Predicted

As Japanese factories close and more people face unemployment, the economy shrank by another 0.5 percent for the quarter ending in September. 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.