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Join me as I broadcast live a Double Header Day of major US Economic announcements.

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US GDP Report starts at 11:30GMT 7:30 EST - Register Here

FOMC Interest Rate Announcement - 17:30 GMT 13:30 EST - Register Here

As Sr. Analyst, and Trader Jerry Furst - Founder of Investors Education Network (IEN),  is also a mentor and trading coach to select clients.

On the end of the leash - Ben “Bull Dog” Bernanke!

Bull Dog Defined

The Dog Owners Guide Describes a Bull dog as: Descended from fighting mastiffs brought to the UK by the Roman’s who used them to help keep “Bulls, Bears, and other animals confined in pits” while awaiting the then popular gambling sport of “Animal Baiting” - The Bull Dog with it’s powerful “Jaw” would be used to “Grab a Bull by the nose and hang on until the animal tired and collapsed”

Sleepy Markets Leave News Traders Dreaming

The currency markets have been painfully shy of volatility lately as the US Dollar drifts upwards in strength. Despite a flurry of economic data coming out of the US - The last two weeks have seen the currency markets sleeping and “sawing wood” through what normally would have been a news traders dream.

Friday’s US Calendar of Economic Releases

What a lineup of data: CPI, TIC’s, Industrial Production, along with Current Account Deficit, and Consumer Sentiment - and the markets barely budge - in fact even worse - several spikes and tests of the range have been frustrating to say the least!

US Government Workers Reality vs Yours

Core Inflation as reflected through Consumer Prices supposedly were up less than expected, saying inflation is under control - as long as you do not use energy or eat - or need insurance - or travel. Durable Goods are still cheap - because they are all made in China and other places where where they have no environmental or child labor laws. - Get a US Government worker with a guaranteed pension and medical insurance to tell you how the economy is doing.

Problems with Manipulation - I Mean Government Intervention

Maybe “You don’t need a weather man to tell which way the wind blows” My question is - are they controlling the weather? Despite lots of news that should move the money - There is so much “Bull Dog Jaw Boning” between the US Congress (Beating up on China to “unpeg”) US Treasury Secretary Paulson (Stating a strong US Dollar is in the US interests - Duhhhh…nice to figure it out now after his predecessor John Snow’s policy of free floating markets - yeah right!) and now we have Ben “Bull Dog” Bernanke - a kinder - friendlier market manipulator.

But overall - America knows business - and maybe these dogs know what they are doing.

As Sr. Analyst, and Trader Jerry Furst - Founder of Investors Education Network (IEN),  is also a mentor and trading coach to select clients.

The European Common Bank headed by Trichet raised rates to 4% from 3.75% as expected. There seems to be some signaling for a pause in Euro rate hikes - but Trichet definitely has left the door open to more hikes if necessary. Inflationary pressures were being blamed primarily on energy prices. I’m just not sure how raising interest rates helps bring down the price of oil. 

A look at the 5 Minute Chart shows the Euro dropping vs. the US Dollar and consolidating near 1.35

Tomorrow the UK has it’s interest rate announcement and is expected to keep rates steady at 5.50% - We will see how the Dollar reacts to that.

As Sr. Analyst, and Trader Jerry Furst - Founder of Investors Education Network (IEN),  is also a mentor and trading coach to select clients. Tune in to see his live Webcasts on FX Street.com every Monday at 7am EST - Click Here to register

This past week had an extremely busy calendar of economic reports and events - yet the currency markets reacted unusually stiff.

It’s as if the currencies are tied down with ankle weights

The US Dollar hardly moved after Non-Farm Payrolls and Consumer Sentiment reports were released Friday. Thursday’s GDP report was met with a similar yawn…. Very boring……

Watching paint dry doesn’t get much better than this…  Perhaps the G8 summit next week is holding things back? US Tresury Secretary Paulson who is adamant about China floating the Yuan is skipping out of attending the Potsdam Germany Summit - go figure….

This unscheduled boredom for news traders is then followed by large unschedued moves long after the calendar is clear - sometimes even waiting until after the London session is closed - and then a nice break in price develops.

Canadian Dollar Seeking Parity vs. the US Dollar

Bloomberg has a new report on the Canadian Loonies Continuing strength against the US Dollar as 1.06 becomes the next step down - (Click on Chart to enlarge)

Sometimes it’s best to take an early weekend.

Tune in to my Webcast Monday morning at 7am EST for a look at the Week Ahead on FX Street - Click Here to Register