The past week was filled with data released by the U.S economy in addition to other major economies that resulted in high volatility and fluctuation within the financial markets as investors took a ride on a rollercoaster filled with disappointments and optimism.

One of the major data released this week was the Income report, where is showed that income for U.S individuals increased by 0.2% during July, yet it did not beat estimations, as for spending, it rose during July even higher than expected. This piece of data relieved the markets that income and spending continue to grow, while growth rate is still moderate because of the elevated unemployment and tightened credit conditions.

On the other hand, inflationary pressures remain tied up as July's data showed that Core PCE remains below 2.0% which is the level the Fed characterized as alarming. The Fed is trying to keep balance between economic growth and inflation and up to out time being the Fed is succeeding in doing so.

Chicago's Purchasing Managers Index showed that Manufacturing activities slowed down more than expected during August, yet the rise in ISM Manufacturing index clarified that the slump in the manufacturing sector was only true in respect to the state of Chicago.

Furthermore on the past week's calendar was the Federal Open Market Committee meeting, where the meeting released minutes that indicated a more moderate pace of recovery throughout the rest of 2010, while alienating the double dip recession possibility. By the end of the week the Pending Home Sales figure for July climbed cheerfully and unexpectedly.

The week reached an end with the U.S Labor sector, earlier the ADP index showed that the private sector has shed 10 thousand jobs, yet the U.S Jobs report was the main event awaited to give accurate data and details concerning the tumbling sector. The jobs report showed that the U.S economy has shed 54 thousand jobs during August where the figure was nearly half the expected 105 thousand jobs shed, while it came better than expected yet the unemployment rate climbed to 9.6% from the prior 9.5%.

The Greenback also rode the rollercoaster this week to extend its profit range in general, where the European Debt crisis played a very important role in backing up the US Dollar so the pair would reach a four years low.

As for the U.S stock markets, it kicked of the week on a slippery slope blamed on the gloomy ending of the week before, yet by the second half of the week stocks managed to climb the fallen points as a result of data indicating that the Chinese manufacturing sector has strengthened ion addition to the strengthening U.S manufacturing sector.