Forex News and Rumors – Afternoon Update

US Existing Home Sales Up 2.9%

Existing home sales in the US rose by 2.9 percent for the month of April to an annual rate of 4.66 million homes. Average prices however, fell from $201,300 in April 2008 to $170,200 in April 2009. More

FDIC Identifies 305 US “Problem Banks”

So far this year, US regulators have taken over 36 financial institutions but this number could increase dramatically with today’s announcement that the Federal Deposit Insurance Corp. (FDIC) has classified 305 lending facilities as “problem” banks. More

Ruble Strengthens on US Confidence and Oil Gains

Yesterday’s jump in US consumer confidence and burgeoning oil prices gave Russia’s ruble a boost today helping it gain 0.4 percent to 31.1778 rubles to one US dollar. More

Oil Rises ABove $63 a Barrel

With the Organization of Petroleum Producing Countries (OPEC) set to meet later this week, oil closed above $63 a barrel for the first time in six months. More

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