Forex News and Rumors – Afternoon Update

Australian Unemployment Surges to 5.7%

Unemployment in Australia rose to 5.7 percent from 5.2 percent in March increasing total unemployment by 92,900 to 650,900. This matches the highest level of unemployment in Australia since 2003. More

Oil Prices Jump on Earnings News

A gain of over 200 points in the Dow and positive earnings news from several large firms including a record quarter profit result from Wells Fargo, has helped boost oil price to nearly $51 a barrel in New York today. May delivery contracts jumped $1.49 to close at $50.87 just ahead of the long weekend. More

Analysts Points to Dollar Rally

Analysts at Citigroup Capital Markets said today that the dollar could be headed for a “sharp rally” based on new information that the US trade deficit in February narrowed to the lowest level in nine years. More

US Sales Declining at Slower Pace

Sales continued to fall in March to the tune of 2.1 percent but this is less than expected and much less than 4.2 percent drop experienced in the fourth quarter of 2008. More

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.