Forex News and Rumors – Afternoon Update

U.S. Pessimism Reaches All-Time Low

A Conference Board survey showed that the U.S. consumer confidence index fell to 37.3 for the month of January – a further decline over the previous record of 38.6 recorded for the month before. More

Volume of Trading in U.S. Dollars Up 8.7% in October

Trading in the U.S. dollar increased to $762 billion a day for the month of October – this is an increase of 8.7 percent from the previous year. Spot trading saw the largest increase rising 27 percent to $470 billion a day. More

Investors Turn to Yen

Investors turned to yen today after the U.S. consumer confidence index showed that U.S. consumer confidence has reached a record low. More

Bank of Canada Says Canada Will Lead G7 Out of Recession

Bank of Canada Governor Mark Carney said today that Canada will recover from the global recession ahead of most of its peers based largely on the strength of its banking system.

“We expect Canadian growth to be stronger than those other economies in part because we don’t have those overhangs of imbalances and lagged effects of a recovery in our financial system than those other economies have”, Carney noted earlier today. More

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