Forex News and Rumors – Afternoon Update

New Zealand’s Economy Shrinks at Fastest Rate Since 1992

New Zealand’s Gross Domestic Product (GDP) declined by 0.9 percent for the last quarter of 2008. A drop in manufacturing led the way and helped contribute to the fastest rate of contraction in 17 years. More

Barclays Passes FSA “Stress Test”

Britain’s Financial Services Authority (FSA) has given Barclays Bank a passing grade after subjecting the Bank to a “stress test” to determine the bank’s ability to remain solvent. More

Crude Ends Weak On Losing Note

After a week of gains, investors decided to sell off crude oil today driving the May delivery contracts down $2.06 a barrel to $52.28. More

Obama Meets with America’s Top Bankers

President Barack Obama met with several of the nation’s top bankers to discuss further options for dealing with the toxic assets continuing to hamper attempts to free up lending capital. More

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