Forex News and Rumors – Afternoon Update

Speculation of ECB Rate Cut Drags Down Euro

The euro lost 0.2 percent to the dollar by 2:00 PM in New York today as speculation grows that the European Central Bank will cut interest rates tomorrow. More

Canadian Dollar Gains on Oil and Jobs Data

The Canadian dollar gained 0.3 percent on the US dollar rising to C$1.1716 per US dollar at 2:00 PM today in Toronto. The Canadian dollar is closely linked to oil prices and this – together with new employment data due Friday expected to show the pace of job losses is slowing – has helped the Canadian dollar strengthen to a six-month high. More

Oil Hits High for the Year

Crude oil for June delivery jumped $1.94 to $55.78 a barrel in New York today as optimism that demand is once again on the increase prompted investors to turn their attention to oil and energy stocks. More

Bank Stocks Continue Winning Ways

Just one day prior to the public release of the bank stress tests, bank stocks continue to give Wall Street a boost. Bank of America gained more than 18 percent to $12.84 a share, while Citigroup rose more than 17 percent to $3.88. More

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