Forex News and Rumors

US Consumer Spending Increases in June

For the second straight month, US consumer spending rose in June by 0.4 percent despite a 1.3 percent drop in personal income. More

Pound Breaks $1.70 Barrier

For the first time in nearly a year, the pound briefly broke through the $1.70 level on Tuesday before falling back slightly. Recent signs of growth in the banking sector – seen as a critical component to a recovery in the UK – has benefited the currency. More

Oil Prices Weaken After Profit-Taking

Crude oil prices fell by more than a dollar on Tuesday to $70.50 after investors opted to cash-in after Monday’s rally pushed crude oil futures to their highest price in the past six weeks. More

Unemployment in China Hampers Growth Plans

Wang Yadong – an official with China’s Ministry of Human Resources and Social Security – said that the government is under “enormous pressure” to create jobs as the global economic crisis continues to force companies to lay off workers. More

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