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Forex News and Rumors

Bank of Canada Expected to Cut Rates Today

The Bank of Canada [1] is expected to cut the overnight lending rate in half today reducing the rate to a historic low 0.5 percent. More [2]

US Mortgage Delinquencies Continue to Rise

For the eighth straight quarter, the number of people defaulting on mortgages in the US has climbed rising 53 percent in the fourth quarter of 2008 when compared to the same period one year earlier. More [3]

Switzerland Officially Enters Recession

Switzerland’s Gross Domestic Product (GDP) contracted by 0.3 percent in the fourth quarter on declining exports and investment. More [4]

RBA Opts Not to Cut Rates

The aussie dollar received a boost today on news that the Reserve Bank of Australia will not cut interest rates for the time being. More [5]

Dead-Cat Bounce Today For North American Stocks

Despite S&P stock futures up a modest 2.8 percent giving hope for a slight rebound from yesterday’s heavy losses, markets in Asia and Europe resisted efforts to recover. In Japan, the Nikkei 225 continued to fall but started a recovery late in the day – Hong Kong’s Hang Seng fell 1.9 percent and India’s Mumbai index closed down 2.3 percent.

In Europe, the UK FTSE was down 1.5 percent in mid-day trading, while Germany’s DAX and France’s CAC 40 were essentially unchanged from yesterday. All eyes will be on the open in North America where yesterday, the Dow Jones industrial average dropped below 7,000 for the first time since April 25, 1997 – the Dow has dropped 52 percent from its record high of 14,164 recorded in October 2007.

This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Scott Boyd

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