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

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