The point of a correction is to correct.

Between April 2007 and April 2010, global foreign exchange market increased by 20 percent from $3.3 trillion to $4.0 trillion, which is now the golden number for forex volume.

USD/JPY has a strong tendency to weaken in the month of August.

Let’s see, what happened this summer?  Easy question.  The recovery went missing.

John Mauldin used to write about things like P/E ratios, secular bull and bear markets, valuations, and all of the things we used to think about in the Old Normal.  Now, the New Normal has to have its turn first.

In the US, half a million Americans filed for jobless benefits last week -- the highest number in nine months.  At this point in a typical recovery, job growth should be strong.  Instead, it is shockingly weak.

The US dollar finished the week nearly unchanged against major counterparts, rallying notably at the outset but giving back gains into Friday’s close.

The euro had an uneven performance this past week, but the outcome that really mattered for the shared currency was the progress made against the US dollar.

The yen continued to strengthen against the greenback this past week as investors continued to seek safety amid the recent disappointing data from the world’s largest economy and its dour outlook.

The British pound slipped against most of the majors on the week, but ended on a strong note as a return of risk appetite helped sterling erase earlier losses.