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Forex News and Rumors

NA Stock Markets Poised for Positive Open

North American stock markets are poised to open in positive territory this morning as oil prices climbed above $40 a barrel overnight. There is also news that the U.S. government will take on a larger stake in Citigroup and potentially other banks as well. More [1]

Yen Falls on Citigroup News

With speculation growing that the Obama administration will take on a greater stake in individual banks to steady the U.S. financial system, the dollar gained 2 percent on the yen to 94.88 yen as of 7:00 AM New York time. More [2]

Canada’s Retail Sales Drop 5.4% in December

Statistics Canada reported that retail sales [3] for the month of December fell by 5.4 percent in December to $33 billion – this represent the largest single-month decline in 15 years. More [4]

Economists Predict Economy to Worsen in 2009

The National Association for Business Economics (NABE) predicts that the economy will continue to decline in 2009 but could begin to recover in the following year. The NABE also suggested that U.S. unemployment may reach 9 percent this year compared to the current 7.6 percent. More [5]

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Scott Boyd

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