Forex News and Rumors – Afternoon Update

US Consumer Confidence Jumps to Six-Month High

In the first sign that consumers feel things may be about to rebound, the New York-based Conference Board said Tuesday that its Consumer Confidence Index rose more than 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest level since November’s 44.7, easily beating expectations of 29.5. more

Expected Poor Showing in Stress Tests Brings Down Bank Stocks

Shares of Bank of America and Citigroup fell today on rumors that the government-mandated “stress tests” completed a few weeks ago will show that most of the banks will require additional capital to remain solvent. One source even said that the banks are already preparing their appeals for when the results are made public on May 4th. More

Canadian Dollar Falls for Second Day

Sputtering oil prices and a drop in commodities dragged the Canadian dollar down 0.1 percent today to C$1.2224 per US dollar by mid-day trading. More

UBS Predicts Yen to Gain on US Dollar

Claiming that upcoming conditions could be “yen-supportive”, UBS currency analyst Geoff Kendrick wrote in a research note today that the yen could trade at 95 yen per US dollar within a month, from the current rate 96.10 earlier today in London. More

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