WASHINGTON (AP) — The number of out-of-work Americans continuing to draw unemployment benefits has surged to a 25-year high, while shoppers turned extra frugal, further proof of the damage from sinking economy, credit problems and financial stresses. The Labor Department reported Thursday that the number of people continuing to draw
Interest Rate Cut BOE cut its Interest Rate by 0.5% yesterday, the fourth Interest Rate cut since the coordinated emergency Interest Rate Cuts in October and sent the GBPUSD to a high of $1.5370. Non Farm Payrolls However, the focus will be on the Non Farm Payrolls report that will be released today. An early U.S. payroll report showed that
This is a summary of events that lead to the current Global Financial Crisis. January 2008 Starting from the 2nd. day of the New Year US Stock Markets took a Downturn for about three weeks. The National Association of Realtors announced that drop in New Housing Sales in 2007 was the largest drop in 25 years. March 2008 Bear
USD Interest Rate Cut The NBER revealed that the US economy has been in a recession since December 2007, leading to the collapse of major US stock bourses. The Dow Jones sank by 7.7%, and both the Nasdaq and S&P 500 plunging by nearly 9%. The selling accelerated following comments from both Fed Chairman Bernanke and US Treasury Secretary
Forex News this Week For this week the focus will be on the Non Farm Payrolls. However, there are several others Fundamental News that will have a strong impact on GBP and the USD. These are: • BOE Interest Rate Decision This BOE Interest Rate Decision will be at 12.00 GMT on Thursday, the 4th. December. This monthly meeting of the
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