Forex News and Rumors – Afternoon Update

Oil Falls on Weak US Employment Data

With another 576,000 new jobless claims last week, investors turned away from oil after gains yesterday boosted crude to a seven-week high. U.S. crude for September delivery, which expires on Thursday’s close, was down 53 cents at $71.89 a barrel at 12:26 p.m. EDT after earlier reaching $72.88, its highest level since June 30. Brent futures fell $1.29 a barrel to $73.30. More

British House Prices Gain 1.1%

Housing prices in the UK took a positive step today towards stabilizing, gaining 1.1 percent in the month of April. The average house prices in the UK is now £189,215 ($312,205 USD). More

Goldman Sachs Recommends Canadian Dollar

Goldman Sachs recommend the Canadian dollar over the US dollar in a client note today, helping the Canadian dollar in its third straight winning session. More

UK Retails Sales Up 4%

Retail sales in Britain for July were up 0.4 percent over the previous month and doubled the expected 0.2 percent increase. The total annual increase is now 3.3 percent – the highest since August 2008. More

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