Euro leads currencies higher…  Commodities rally back on FOMC thoughts…  FOMC meeting today…  NZ Consumer Confidence on the rise… And Now… Today’s Pfennig!

The World Bank yesterday (Monday) lowered its growth forecast for the global economy and warned about a long and painful recovery in developed economies, underscoring the recent supposition by many analysts that a three-month rally in U.S. stocks has been overdone.

The World Bank downgrades its world economic forecast, A few lessons from the school of German-style hyperinflation, Will we be seeing you in Vancouver this year? And plenty more…

Bernanke Sees Late-09 Turnaround; Canadian Dollar Hits Six-Month High; Kraft Beats 1Q Estimates; South Africa Unemployment Hits 23.5%; Service Sector Gains Ground; AIG’s First Quarter Loss Expected to Shrink; Some Traders Oppose Up-Tick Rule; Chile’s Peso Rallies to 7-Month High Against Dollar

At a roundtable discussion tomorrow (Tuesday), the U.S. Securities and Exchange Commission (SEC) will talk about restoring a rule that some believe could have mitigated the bear market in U.S stocks.

UBS Posts $1.7 Billion Loss; Infosys Forecast First Sales Drop; FDI in China Slips Again; Annual CPI Falls For First Time Since 1955; Homebuilder Sentiment Rises; BofA Raises Credit Card Transfer Fees to 4%; Cisco Deal Clears FTC; Brazil’s Bonds Rise On Interest Rate Cuts

There is an old Wall Street adage that no one rings a bell at major market tops or market bottoms. That may be true in normal times, but as many have noticed, we are now completely through the looking glass.

“We’ve averted” the risk of a depression, Federal Reserve Chairman Ben Bernanke said this week. “Now the problem is to get the thing working properly again.”

While the U.S. Federal Reserve’s plan to buy more than $1 trillion in debt has helped unfreeze the credit markets, it has also effectively capped U.S. Treasury yields and undermined the dollar.

651K jobs lost in Feb…  Dec. and Jan Job losses revised up…  Talking Norway, Canada, Australia… Brazil stealthlike for 3 months… And Now… Today’s Pfennig!