Forex News and Rumors

US Foreclosures Break 321,000 in May

The US foreclosure rate increased by 18 percent in May when compared to May 2008. The total number of foreclosures for May was officially pegged at 321,480 properties. More

Stock Markets On Hold Ahead of G8 Meeting

Investors opted to remain on the sidelines this morning ahead of a meeting of the G8 Finance Ministers scheduled for tomorrow in Lecce, Italy. US Treasury Secretary Timothy Geithner is expected to face direct questioning on the future outlook of the dollar amidst recent calls from China and Russia to replace the dollar as the currency of choice for foreign reserves. More

Strengthening Dollar Lowers Oil Futures

A rebound in the value of the dollar and a mixed outlook on the demand for energy helped drag oil for July delivery contracts back under $72 a barrel. More

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