What happened this week: There is actually not much to say about this week. Trading remained on the low side and there was only the business with normal and regular buyers that could be called market activity.

So, once again the currency market was the more exciting challenge. The US$ started the week on the low side and came ever closer to the magic figure of 1.50- against the euro before making a sharp turn to trade back at levels closer to 1.46. But, it was not only the currency market making the headlines last week and worrying the financial markets. The continuing horror stories about losses at private banks also sent the stock markets on a downhill rollercoaster ride. The global community is now getting scared about the outlook for 2008 and fresh rumours from Italy about financial problems, late payments and an intensified focus on the industry by credit insurers are not making things any easier, despite the pretty regular business conditions which remain, as psychology is becoming more and more of a factor these days.

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