Forex News and Rumors – Afternoon Update

US Existing Home Sales See 5.1% Increase in February

The National Association of Realtors said today that sales of existing homes jumped by 5.1 percent in February. Much of the credit was attributed to lower home prices which have dropped more than fifteen percent on average in the past year. More

Stocks Gain as Treasury Debt Plan Announced

Pledging more than a trillion dollars to absorb the bad assets held by the banks, Treasury Secretary Timothy Geithner released details of the “bad debt” plan. Markets responded positively on Monday with financial stocks leading the way. More

WTO Says World Growth to Decline 9% in 2009

The World Trade Organization said today that it estimates the sharp losses in global trade induced by the economic crisis, will result in a decline in growth of 9 percent in 2009. This would be the largest single-year drop since World War II.More

Oil Breaks $54 a Barrel

Positive news from the stock market today pushed oil to a four-month high breaking through the $54 range but closing back at $53.44. More

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