Forex News and Rumors – Afternoon Update

Crude Falls on Combination of Lower Demand and Higher Stockpiles

Continuing concerns of lower demand in the face of a global economic slowdown and higher-than-expected US gasoline reserves conspired to pull crude prices down more than $5 a barrel. More

Bank of Japan Governor Outlines Priorities

Bank of Bank of Japan Governor Masaaki Shirakawa stated earlier today that the bank’s first priority is the global financial crisis and the potential is has to damage the Japanese economy, but noted that cutting interest rates too dramatically could “distort” the market. Last week the B of J cut interest rates by 0.2 percent to a G7-low of 0.3 percent. More

Equity Markets Show Uncertainty

The Dow Jones fell by more than 350 points one day following Barack Obama’s election as US President. Other major indexes also lost at least three percent as investors ponder the new political landscape.
More

Crude Oil Drags Down Loonie

The Canadian dollar fell against the US dollar today as the price of crude and other commodities fell on expectations of weaker demand. More

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