It was a busy week as plenty of news and events kept the markets hopping, culminating in the employment report today. 

Honestly, if I was told that GDP would be over 3.0%, and NFP would be up 166,000, I would have bet a million dollars the dollar would have been at least a touch higher from the previous week, even if the Fed did lower rates by 25 basis points. 

However, the EURUSD is within 15 pips of the highs, GBPUSD is approaching 2.0900 and looking like 2.1000 is in the cards for early next week, USDCAD is 3 big figures lower this week  to 0.9350 (it seemed like only yesterday it was breaking parity), USDCHF hasn't been this low for a few years.  Gold is above $800.  Oil is within a "fiver" from reaching $100 a barrel.  I know the Fed did ease but that has been known for a while now.

WOW!

Anyway, after this week we have a quieter one next week.  In the US, earnings from retailers are supposed to be released which may provide for some earnings disappointment for the stock market.  Economic releases include ISM Non-manufacturing on Monday, Intial Claims on Thursday and the Trade Report on Friday.  Bernanke is scheduled to speaks on Tuesday.  The market will be curious to see what he has to say about recent Fed action and his thoughts going forward.  Other than that, the markets will most likely have its fits and starts as liquidity and uncertainty cause extra volatility with dollar bears still in charge....