Forex News and Rumors

Oil Prices Decline on Fading Optimism

Fresh warnings from the World Bank suggesting that economic growth for the remainder of the year will be less than originally predicted, helped knock oil back to $69.33 in late-day trading in Singapore on Monday. More

ECB Governor Predicts No Change in Interest Rates

Ewald Nowotny – a member of the European Central Bank’s Governing Council – said that the bank will likely hold interest rates at the current 1 percent for the remainder of the year. More

Harvard Study Paints Bleak Picture for Housing

A study released today by Harvard University suggests that soaring consumer debt and poor employment opportunities will continue to make home ownership impossible for many Americans.

“Clear signs of a recovery have yet to emerge, and job losses and the steady stream of foreclosures are keeping many markets under pressure,” researchers for the Cambridge, Massachusetts-based center wrote. “Sales of both new and existing homes continued to struggle to find a bottom.” More

Canadian Banks Look South for Opportunities

Having survived the economic turmoil far better than their US counterparts, Canada’s largest banks are looking for bargains south of the border. More

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