Forex News and Rumors – Afternoon Update

Canadian Dollar Surges to Six-Month High

The Canadian dollar gained more than a cent on its American counterpart climbing to 86.61 cents US by 2:00 PM in Toronto this afternoon. A better-than-expected employment report and a continued run-up in oil prices are helping lift the Canadian buck to levels not seen in half a year. More

Dollar Falls Against Euro

The dollar fell by 1.7 percent against the euro today but rebounded slightly to $1.3625 by 3:00 PM in New York this afternoon. More

Crude Could Break $62.65 Resistance Level

Technical analysis by PVM Oil Associates Ltd. suggests that oil will soon breach an important resistance level of $62.65 and could extend its rally to $78 within six months. More

US Banks Sell Stocks to Meet Capitalization Requirements

Yesterday’s release of the US Bank Stress Tests results seems to have been received in a positive manner as investors snapped up shares from several banks including Morgan Stanley and Wells Fargo. More

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