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The Federal Reserve were busy this week, first cutting interest rates by .25% on Tuesday, and then proceeding to announce a novel approach to injecting money into the banking system...

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For data release, this week is as heavy as they come, with the aforementioned US interest rate statement on Tuesday. A quarter point cut is most likely, but with a 20% chance of a half point cut, the reaction could be volatile to say the least.

After the party comes the hangover, and of course the bigger the party, the bigger the hangover.

The Dollar again grabbed the headlines last week as it hit all time lows against the Euro and levels not seen in generations against the Pound & Canadian Dollar.

Wall Street leapt higher last week after the Federal Reserve calmed investors' fears about a sinking economy, implying that risks to the financial markets from the summer's credit crises have eased, says BetOnMarkets.com's Michael Wright.

Last week world stock markets made a decent stab at recovering from the previous week’s rout. The strongest market was again the Nasdaq, with the new economy shrugging off the previous Friday’s wobble to finish near its highs...

Last week the ECB (European central bank) and MPC (UK central bank) opted to take a ‘wait and see’ approach with interest rates.

A new low for the US dollar, and a mixed bag of economic news, gave investors few clues as to what the FOMC might do next with the interest rate.

BetOnMarkets.com Commentary from 27th - 31th August 2007.....