Forex News and Rumors – Afternoon Update

US Bank Stress Tests to be Available May 4

The results of the stress tests applied to the 19 largest US banks to evaluate the likely survivability of each bank should the on-going recession worsen, will be released to the public on May 4th. More

US Recession Shows No Signs of Abating

Federal Reserve Bank of Atlanta President Dennis Lockhart said in a speech in New York today that despite some “encouraging signs” of late, the overall economy is still “very weak”. More

Pound Rallies to $1.50

The recent revival in sterling continued today as the British pound broke through the $1.50 mark for the first time in three months. More

Canadian Factory Sales Show Unexpected Improvement

Factory sales in Canada reported the first positive gain since last July increasing by 2.2 percent in February for a total of $42.9 billion. More

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