Forex News and Rumors – Afternoon Update

Recession Ends in Britain

The Institute of Chartered Accountants’ predicts that the UK economy will grow by 0.5 percent in the third quarter, but despite the slight growth expected, economists still warn that businesses and consumers still face challenging economic conditions. More

Bank of Israel Raises Interest Rates

The Bank of Israel became the first major central bank to lift interest rates when it announced a quarter of a point increase earlier today. Governor Stanley Fischer supported increasing the lending rate to 0.75 percent, saying that the move “strikes a balance between the need to moderate inflation and the need to continue to support the recent recovery in economic activity. Setting the interest rate at the low level of 0.75 percent continues to represent an expansionary monetary policy.” More

Standard Bank Says Dollar to Fall As Investors Take on Risk

Analysts at Standard Bank say the dollar could fall to $1.55 against the euro next year as investors become more willing to take on risk, according to Standard Bank Plc. The dollar traded at $1.4321 per euro as of 4:25 p.m. in London, from $1.4326 on Aug. 21. The U.S. currency was at $1.6417 against the pound. The Australian dollar was at 84.03 U.S. cents. More

Canadian Bank Shares Fall Ahead of Quarterly Results

Share prices for Canada’s Big Five Banks tumbled today ahead of tomorrow’s quarterly reports. While Canada’s banks have weathered the economic crisis better then most other financial firms, profits are expected to come in 10 to 15 percent lower. More

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.