Forex News and Rumors – Afternoon Update

Obama Promises More Accountability for Bail-Out Recipients

Citing a “lack of accountability and transparency in how we are managing some of these programs to stabilize the financial system”, President Barack Obama today vowed to prevent businesses from using taxpayer dollars on non-essential operational costs including exorbitant bonuses. More

Pound Continues to Lose

After a report earlier today showing that the UK economy shrank more than expected, the pound fell against both the dollar and the euro. More

Smaller Projected Deficits Shed Favorable Light on Canadian Dollar

With most countries running up staggering deficits to spur the economy, the $34 million ($27 million USD) deficit projected by the Canadian government’s latest budget makes the Canadian deficit much lower than the other G7 countries and represents less than 2 percent of the country’s GDP. More

Tech and Financial Stocks Give Wall Street Late Rally

After earlier losses this week around tech and banking stocks, buyers found their way to the markets today buoyed by Google’s earnings which beat expectations. 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.