Forex News and Rumors

US Economy Shrinks 6.2% For Q4 2008

The US Commerce Department announced that the US economy contracted by 6.2 percent for the final three months of 2008 primarily due to a dramatic decrease in exports and consumer spending. More

US Government Expected to Take 36% Stake in Citigroup

The US government has agreed to provide up to $25 billion in emergency funding in return for a 36 percent equity stake but the deal is still contingent on the bank finding private investors willing to agree to a similar arrangement. More

Economists Question Optimism of Obama’s Budget

Several private economists have questioned some of the assumptions upon which the Obama administration has based its budget plan. Estimates that the US economy will shrink 1.2 percent this year but will then achieve a whopping 3.2 percent positive growth in 2010 followed by even larger increases exceeding 4 percent in each of the next three years is seen in some quarters as “overly optimistic”. More

Gold Continues to Shine

Gold broke through $1000 an ounce last week capping a 40 percent price increase from a low of $712 last November, but anaylsts are still rating gold a “buy” with some setting the target as high as $1,500 by the end of the year. More

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