The European Central Bank and the Bank of England both left interest rates unchanged, which was right in line with the market's expectations.

There’s a little more than a trillion dollars worth of subprime mortgages outstanding. We’ve heard that as many as one out of six of them is in trouble. And after you put these mortgages in CDOs and embed some options in the derivative contracts and get mathematicians to gin up models so you can leverage them to high heaven, there’s no telling how large the losses might go.

In his testimony to Congress today, Fed Chairman Bernanke commented on the upside risks to inflation but focused more on the downside risks to growth. He expects growth to slow noticeably in the fourth quarter, which confirms his dovishness. If he had done the opposite and focused more on inflation like his counterparts in the Eurozone and Australia, the dollar could have rallied.

Fed fund futures are pricing in a 70 percent chance of yet another 25 basis point cut on December 11, but what about that pesky inflation issue? Won’t more accommodative monetary policy only fan price pressures?

People's Bank of China officials' comments regarding the US dollar losing status as a world currency sent the dollar tumbling.

Fed officials speaking today are not worried, and feel that the effect on inflation from the weak dollar is limited and that the US also needs a weaker currency to boost growth.

Today Price Headley takes a look at how traders can combine technical analysis and fundamental analysis and have the best of both worlds.

Consumer and investor sentiment have turned more pessimistic, suggesting that the Euro-zone economy may be facing some road bumps. Furthermore, the financial markets have yet to fully recover, and as a result, the ECB is likely to take a firmer stance on inflation risks.

We are witness to something that doesn’t happen very often – like the eruption of a volcano or the collapse of a bridge – the first stage of a credit contraction. So far only at the top and the bottom of the credit structure are people getting pinched, squeezed and punished.