ForexNewsMarket.com 3/9/09 News

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Oil Prices Rising

Since August 2008, oil prices have been dropping steadily due to decreasing demand, however that may be about to change. As OPEC threatens to cut oil production once again, prices are beginning to rise.

If the hike in prices continues it could mean more troubles for countries in difficult financial situations due to the economic crisis, such as the UK & Japan, slowing down the world's economic movement even further.

Forecast Gloomy for German Economy

Germany, which has been consistently struggling over the past few months like most countries in Europe, could be headed from an even more gloomy 2009. Economists predict that the European power's economy could shrink by up to 2% this year, causing further depreciation in the EUR.