Forex News and Rumors – Afternoon Update

CFTC poised to move aggressively on position limits

The Commodity Futures Trading Commission will consider “every option” to clampdown on excessive speculation in energy markets, the head of the agency said on Tuesday.

The CFTC, regulator of U.S. futures markets, is reviewing how to limit how many futures contracts can he held, so-called position limits, and if some traders should be allowed to exceed those limits. More

Oil settles below $68

Oil prices fell Tuesday after data showing a drop in U.S. consumer confidence spurred concerns about the economy and sent investors into safer havens. More

Canada Dollar Down First Time in Eight Days as Oil, Stocks Fall

Canada’s dollar dropped for the first time in eight days against its U.S. counterpart as a report showed American consumer confidence declined in July more than forecast and stocks and crude oil tumbled. More

US house prices and confidence fall again

House prices continued to fall across the US in May, although the rate of decline slowed for the fourth month in a row.

A slowdown in house price falls was not enough to boost consumer confidence, which fell again this month. More

Dow and S&P dip, but Nasdaq up with biotechs

The Dow industrials and the S&P 500 slipped on Tuesday as signs of a strong economic recovery were put to the test by a large drop in consumer confidence and disappointing quarterly results from Office Depot and U.S. Steel, among other companies. More

Consumers gloomier for 2nd straight month

A key index of consumer confidence fell more than expected in July as the dismal job market continued to darken the outlook for household spending.

The Conference Board, a New York-based business research group, said Tuesday its Consumer Confidence Index fell to 46.6 in July from a reading of 49.3 in June. More

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza