Forex News and Rumors – Afternoon Update

Oil Drops Below $34 a Barrel

Oil prices dropped to a new low for the year closing at $33.98 a barrel in New York. Despite the fall in oil prices, retail prices for gasoline have been moving steadily upwards as refiners cut back on production to increase their profit margins. More

Total Number of Jobless Benefits in US Rises

The total number of Americans receiving unemployment benefits for the week ended January 31st rose to 4.81 million from 4.1 million the week before. More

US Stocks Continue to Fall Despite Stimulus Bill

US Stock markets fell today as investors remain unconvinced the government’s proposed stimulus bill can reverse the declining economy. More

Pound Falls Against Dollar and Euro

For the third straight day, sterling fell against both the pound and the US dollar. More

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