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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 [1]

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 [2]

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 [3]. More [4]

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 [5]

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Scott Boyd

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