There was very little data released yesterday with the US banks closed in observance of Presidents Day. The markets were jittery in anticipation of the release of positive news regarding Greece which drove sterling weaker against the euro. The main data out of the UK today is the release of Public Sector Net Borrowing figures. With tax receipts higher than expected for the Inland Revenue in January it will interesting to see if we are seeing reduced on-going requirements. Call in now for the latest update and the latest news.

The euro was buoyed yesterday by the markets optimism that a bailout would finally be secured. Talks began in Brussels yesterday afternoon between the Euro zone finance ministers as they tried to piece together the rescue package Greece needed to avoid defaulting. Final agreement was reached late in the night. However, the sentiment was not all positive as doubts still exist as to Greece’s long term economic viability. In Europe today there is very little data released aside from the consumer confidence figures as markets will look to digest any further development regarding Greece. Call in now for the latest update and the latest news.

It was Presidents Day in the US so trading volumes were down due to the bank holiday. The US dollar was broadly lower due to the Chinese rate cut and the increased positive sentiment surrounding Greece. There is very little data out of the US again today. Call in now for the latest update and the latest news.

Elsewhere, China’s central bank has cut the reserve requirement ratio to boost lending. This is the second cut in two months and more are expected which suggests weak growth expectations from China. The main releases today include the minutes from the Australian monetary policy meeting and the inflation expectations from New Zealand released first thing this morning. Later on today Canada releases its retail sales figures. Call in now for the latest update and the latest news.

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