Bailout fuels a rally… How long the rally last?  A slew of data today…  Thoughts from Jim Rogers… And Now… Today’s Pfennig!

With an estimated $4 trillion daily, forex trading dwarfs other markets in terms of volume. And stock market chaos is driving more investors to the currency markets. Frank Hemsley says forex trends are prone to overshoot. That means the British pound could fall much further against the US dollar in the coming months. It may be a bold call, but Frank says pound-dollar parity by the end of the year is a real possibility.

You know it’s a real financial crisis when capitalists are being told what to do by a bunch of socialists and communists. But these are the times we live in. Ironic and moronic.

Central Bank intervention is the reason… Busy data week… Australia’s central bank to mirror the BOE?… China to slow appreciation … And Now… Today’s Pfennig!

Can you talk a currency into gaining value? It seems Fed Chief Ben Bernanke and European Central (ECB) President Trichet think so. They’ve been telling anyone who will listen how serious they are about fighting the inflation monster that would cheapen their currencies.

The markets are riddled with confusion. And man what a difference a few days makes in the currency markets. So much has been happening, where do I even begin?

In the currency market, the dollar tanked against the euro. Late Thursday, the euro was trading at $1.5568 vs. $1.5435 on Wednesday.

Come on, do you really believe the Fed is going to raise rates now, or in the near future with the economy teetering on the edge of a deep dark recession? Not a snowball’s chance in you know where! So, that leaves us with jawboning.

In the currency market, the dollar was sharply higher against the euro. Late Tuesday, the euro was trading at $1.5434 vs. $1.5536 on Monday.

Gold was steady to higher through the far East and most of London trading yesterday, but at about 9:30 of the New York session it plunged, bottoming at $877 before it climbed through the NYMEX, only to sag again in the Globex and finish at $881.30/oz., down $9.00. Overnight, gold has fallen off.