Forex News and Rumors – Afternoon Update

Dow Loses 2% as Markets Extend Losses

The major markets all continued yesterday’s losses with the Dow shedding more than 2 percent of its total value. A series of earnings reports due next week are expected to show deep corporate losses that threaten to give back most of the recent gains. More

CEO Survey Points to More Job Losses, Further Spending Declines

The Business Roundtable Index – a survey of American CEOs and their predictions for the next six months – suggests that the nation’s business leaders believe that a turnaround in the economy is unlikely for some time yet. The index fell another five points in March to 16.5 – any index number under 50 is considered to be negative. More

Euro to Weaken Against Dollar: Citigroup

Citigroup analyst Tom Fitzpatrick included a projection in a client note yesterday that the Euro could lose 5 percent to the dollar by the end of April if the dollar “snaps back” to a key Fibonacci level. More

Crude Oil Prices Continue to Retreat

Crude oil prices fell for the third consecutive day as stockpiles continue to rise amid worsening ecconomic news. More

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