Tempered Optimism and the Forex!

Well to put it in stock market terms, this was somewhat of a corrective week. There was a lot of bad news, but even then the bad news wasn’t all that bad, as many of the negative numbers were still better than expected and some companies, like Ford, look better than they have in years, even if still in the red at the moment. In a couple of the previous weeks optimism seemed to carry through every report. While that optimism is a little tempered this week, it’s still there and it seems that the constant downward pressures of the past year have definitely eased, meaning that long awaited bottom might be a lot closer, and more solid, than previously thought.

In addition to all the major economic reports released this week, there was also a lot in the news. The Ford company is looking better, and seem to be in the far best shape of the three U.S. auto manufacturers. Meanwhile there have been many major meetings this week. The U.K. Chancellor of the Exchequer made a budget statement to the British government, while the Secretary of the Treasury Geithner addressed the economic club of Washington before hosting the G-7 finance ministers on Friday. Canada released their monetary policy report, as well.

While this week may not have had many of the shining and glowing reports of some of the past few weeks, there still seems to be a tempered optimism. Sometimes even when the news isn’t the best, it’s still building towards the optimism of better times ahead. So without any further wait, here is this week’s report on the week in review.

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