Forex News and Rumors

Oil Hits 2009 High

Oil briefly hit a high for the year of $74.05 a barrel before falling back to $73.94 in early-morning trading in New York today. More

Stronger PMI Numbers Boosts Euro

The Purchasing Manager’s Index (PMI) for the eurozone region rose to a 15-month high in August, climbing to 50 points from 47 points in August. The news helped lift the euro as high as 1.4335 dollars before pulling back to 1.4319 dollars by mid-day trading in Europe. More

“Cash for Clunkers” to be Wound Down

The US government will wind down the so-called “cash for clunkers” program that ear-marked $3 billion for rebates to entice drivers with older models to trade-in for new cars. Some analysts predict that ending the scheme will see car sales plummet. More

Bernanke to Deliver Speech to Kansas City Fed

Federal Reserve Chairman Ben Bernanke is scheduled to address the Kansas City Federal Reserve later today in which he promised “some bracing air and some bracing intellectual discussion”. More

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