The U.K CPI (Consumer Price Index) came out as forecasted at 4.5%, which provided the GBP/USD with a slight upside bounce. The good news comes at a time where the Euro and Sterling are both on an extreme downside trend against the U.S dollar. The GBP/USD broke the 1.5780 major support line, hitting a 9 weeks low.

Knight Transportation, Inc. (NYSE:KNX) reported revenue and earnings for the fourth quarter ended December 31, 2010. For the quarter, total revenue increased 12.2% to $188.3 million from $167.8 million for the same quarter of 2009. Revenue before fuel surcharge increased 9.8% to $158.0 million compared to $143.9 million in the fourth quarter of 2009.

This morning was another day filled with economic news across the globe. Last night the important Shanghai Index sold off by over 1.30 percent as China raised its bank reserve ratio by 0.5 point. This move by the People's Bank of China(Chinese central bank) comes as the country tries to bring down its high inflation rate.

Get ready to be hit by some startling inflation data. The data soon to be released by the government will put a dagger through the hearts of those who are predicting a protracted period of deflation. Wall Street and Washington are telling you inflation isn't something we need to be concerned about for years to come.