Forex News and Rumors – Afternoon Update

U.S. Housing Slump Worsens

The National Association of Realtors released figures earlier today showing that the sale of both new and existing homes fell more than expected for the month of November.

Existing home sales report

New home sales report

Won and Rupee Could See Gains in 2009

Sherman Chan – an economist with Moody’s – said in a recent interview that South Korea’s won and India’s rupee are both well-positioned for the new year.

“They have the strongest potential to rebound,” Chan noted. “Any recovery in risk appetite should see capital flowing back in.” More

Commodity Prices Show Weakness

Continuing weakness in commodity prices and crude oil in particular are making the prospects of inflation in the near-term less likely. For this reason, fewer investors are turning to gold as an inflation hedge. More

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