Forex News and Rumors – Afternoon Update

US Think Tank Says Job Growth Unlikely Next Year

Latest news from The Conference Board – an independent research group that manages the Employment Trends Index – says its index is down more than twenty percent this year and it is likely that employment will remain weak for the next year. More

Russian President Paints Gloomy Picture

Russian President Dmitry Medvedev said in a television interview on Monday that lower oil prices could see a reduction of 8.5 percent in this year’s Gross Domestic Product (GDP) when compared to last year. Since coming to power in May 2008, Medvedev has pushed for economic reform that would reduce Russia’s dependency on the sale and export of oil and other natural resources. More

Canadian Dollar Falls on Weak Stocks, Falling Oil Prices

The Canadian dollar fell for the third straight day as falling oil prices and weaker commodity prices turned investors against the Canadian buck.

“Short-term, equities are the obvious directional driver,” said Adam Cole, London-based global head of currency strategy at RBC Capital Markets Inc. More

US Personal Bankruptcies Could Reach 1.4 Million by End of the Year

More than 126,000 consumers filed for bankruptcy in the US in July – a 34 percent increase over July 2008. So far, 675,351 consumers have declared bankruptcy this year with some estimates suggesting the full year total could reach 1.4 million. More

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