Forex News and Rumors – Afternoon Update

US Service Sector June Results Better-Than-Expected

The US service sector which includes everything from retailers to restaurants, contracted less than predicted for the month of June having its best month since the fall of 2008. More

India to Borrow $93 Billion

In order to fund some of the spending initiatives included in India’s budget released earlier today, India will borrow $93 billion (4.51 trillion rupees). More

World Bank:2009 to Remain “Dangerous”

World Bank President Robert Zoellick told the G8 leaders meeting in Italy that despite signs of recovery, the rest of the year remains fraught with economic challenges.

“Yet 2009 remains a dangerous year. Recent gains could be reversed easily, and the pace of recovery in 2010 is far from certain,” Zoellick wrote in a letter to each of the leaders. More

Rocky Day for Markets as Confidence Drops

Wall Street had an up and down day Monday causing the Dow Jones to shed over fifty points by 11:00 AM New York time, but by 1:00 PM the index had gained back those losses. More

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