Forex News and Rumors

AIG Books $61.7 Billion Quarterly Loss

Markets in Europe and Asia opened down this morning on news that AIG posted a loss of $61.7 billion for the quarter. Described as a “system risk”, this is the largest quarterly loss in corporate history. More

In addition to the $150 billion already supplied to AIG, the US government announced another $30 billion in emergency funding.

UK Factories Continue to Slow Production

Latest results from the Purchasing Managers’ Index (PMI) shows that manufacturers cut jobs and outut at a record pace in February falling to 34.7 from 35.8 in January. More

Consumer Spending Jump in January Not Expected to Continue

After six straight months of declines, consumer spending rose a modest 0.6 percent in January due mostly to increased food prices and other nondurable goods. Experts expect the increase to be short-lived however, and predict falling consumer spending for the next several months. More

EU Votes Against Bailout for Eastern Europe

European Union leaders voted against providing a bailout to several Eastern European countries over the weekend driving the euro down against the dollar. More

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.