Forex News and Rumors for September 23rd, 2008 – Afternoon Update

European Services, Manufacturing Contract Further

Europe’s manufacturing and service industries contracted at the fastest pace in almost seven years in September.

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After Record Single-Day Increases, Crude Prices Fall

Despite the pending $700 million buyout, analysts suggest that a recession in the U.S. economy may be unavoidable causing oil futures to fall.

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Nomura Makes It Official

Japan’s preeminent securities broker announced that it has finalized a deal to buy Lehman Brothers equity and mergers division.

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