Forex News and Rumors – Afternoon Update

Euro Predicted to Underperform – More Rate Cuts Likely

Just one day after the European Central Bank reduced interest rates to boost the eurozone economy, a Morgan Stanley analyst referred to the euro as “toast”.

“The yen will continue to be the outperformer in the environment of abrupt market swings and looming uncertainty about the global outlook,” analyst Yilin Nie noted in a recent client report. “The negative parade of news from the eurozone has been relentless,” the note added. More

U.S. Senate Votes to Release Remaining $350 Billion Rescue Fund

The U.S. Senate has voted to approve President-elect Barack Obama’s request to release the second half of the $700 billion bail-out fund. More

Madoff’s Investment Fund May Not Have Made Any Trades

A review of accused fraudster Bernie Madoff’s investment fund shows that it may not have executed a single trade. The report goes on to say that statements mailed monthly to investors may have been entirely fabricated. 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.