Forex News and Rumors – Afternoon Update

Oil Falls to Under $40 in New York

With today’s confirmation that the U.S. economy is still shedding jobs, oil fell below $40 for the first time in 2009. While oil rebounded somewhat since the low of $32.40 last month, analysts predict that oil prices will continue to retreat. More

Cable Closes the Week on a High Note

The British pound completed its best week ever against the euro, gaining over 8 percent for the week. More

Fed Loan Programs “Fraught With Risks”: Lacker

Richmond Federal Reserve Bank President Jeffrey Lacker warned that the central bank should avoid using its balance sheet to finance a fiscal stimulus plan, saying such a strategy is “fraught with risks.”

“Many historical instances of monetary instability have been the result of central banks being prevailed upon to use their balance sheets for fiscal ends,” Lacker said in a speech to the Maryland Bankers Association in Baltimore. “Mixing monetary and fiscal policy is fraught with risks.” 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.