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But let's face it, despite the fact that there are no surprises or major fundamentals in the markets, yet currencies are still moving, and the after math of all what happened in the last two weeks dominates the market, and that's why we don't know when is it the right time for traders and analysts to take a rest, because markets never sleep!!!

The main highlight this week and despite of the calmness in the U.S. markets is dollar weakness, as it looks like that everybody is taking that as a fact, as fears from slowing growth was renewed last week and the week before in Mr. Bernanke's testimonies, while inflation expectations and risks are intensifying, while more write downs and turbulence in the financial markets are still undergoing, so implicitly, all what we can think about now, is weak dollar.

I don't want to take things for granted, and I don't want to be optimistic or pessimistic about it, I am just saying that weather we like it or not, we did not yet see an end for the U.S. economy's troubles, and we still did not see the light at the end of tunnel, and that's why again, the result is weaker dollar.

We can think about a million reasons this week to bet on weaker dollar, a side from technical analysis which also support this by the way, but at the end of the day, all of that is based on the information we have, and any fortunate surprise might change that outlook upside down.

Tomorrow we will start receiving data from the U.S. housing sector, so let's wait and see, is it going to carry a surprise for us?? Or will it be just a continuation for the same thoughts and outlook we see now.

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