Forex News and Rumors – Afternoon Update

Fed Beige Book Describes Economy as “Weak”

The US Federal Reserve “beige Book” – an assessment of each of the Federal Reserve’s 12 districts – showed that the overall economy contracted further and remained weak during the reporting period of early March to April 6th. More

Bank “Stress Test” Results to be Released in Early May

The US government said today that the results of the “stress tests” intended to reveal the overall health of the nation’s banking system, will be available by early May. More

Taiwan’s Dollar Weakens After Ratings Cut

Taiwan’s dollar reversed recent gains after the Standard & Poor’s Ratings Services downgraded the country;s long-term credit rating to negative from stable on fears of a further “deterioration in the government’s fiscal position”. More

Canadian Dollar Continues to Soar

The Canadian dollar – known as the loonie because of the water bird depicted on the reverse of the dollar coin – continued to make large gains against its American counterpart. The loonie jumped to its highest level in 13 weeks, rising as high as $1.2013 to the US dollar (88.24 US cents). More

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