The worst global recession since World War II is ending faster than previously thought, but the recovery will still be a slow one, the Organization for Economic Cooperation and Development (OECD) said today (Thursday).

ZEW says Germany is on the mend…  UK inflation remains higher than expected…  Safe Haven, what safe haven?  Housing data remains soft… And Now… Today’s Pfennig!

Currencies rally…  Eurozone growth unexpectedly stronger!  FOMC extends QE…  Norges is the first!
And Now… Today’s Pfennig!

World trade experiencing a “huge drop”, according to the World Trade Organization.  Rather than the gloomy 9% predicted earlier this year, volume will likely contract by 10%.

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…

Overnight markets ambush risk assets…  Germany’s IFO Business Confidence gains again…  A$’s get pounded by opposite thought story…  More supply to auction off for the U.S…. 

Currencies stop the dollar’s run… BRIC meeting could get ugly for the dollar… RBA meeting notes good for Aussie dollars… Depressing data / forecasts for housing… And Now… Today’s Pfennig!

Initial Jobless Claims rise…  PPI does too!  Euros get hung out on a line…  Gold makes a comeback! And Now… Today’s Pfennig!

Finance ministers and central bankers from the Group of 20 nations, which account for more than 80% of the world economy, promised at a meeting Saturday to do “whatever is necessary” to fix the global economy.