Positive sentiment spread to the markets today after the EU and IMF policymakers made a deal late last night, on the Greek debt reduction targets in a move that will free up financial support for the country and prevent a default.

Greece's international creditors agreed on a package of measures to reduce Greece's debt to 124% of GDP by 2020 In addition, Greece will try to take it further down the debt burden to 110% by 2022, while the EU and IMF policymakers agreed to cut interest rates Greek loans, extend the maturity of 15-30 years, and to give the country a 10-year grace period interest.
This deal is only a draft at this stage, as Germany in need parliamentary approval first. Euro Group established on December 13 for the formal approval of payments.
Meanwhile in the U.S., the Republicans in Congress called on President Barack Obama yesterday, detailed long-term spending cuts in order to solve the financial crisis in the country, even if it seems that if the two sides are getting closer, the two sides held firm against the income tax rate increases for the rich, the Democrats seek.
In the markets, is expected to look for signs and clues as to any progress that is made, but it is likely to remain nervous, especially if talks delayed.
Today's economic calendar is busy data from both the EU and U.S.. UK GDP and inflation in Italy is expected this morning, while, the U.S. was to release official data on durable goods orders, a leading indicator of production, as well as industry data on house price inflation.
In addition, Conference Board will publish data on U.S. consumer confidence, while Federal Reserve Chairman Ben Bernanke is to give brief remarks at the National College Finals Fed Challenge, in Washington, DC

EUR / USD The euro rose against the dollar in Asian trading today after news that the IMF and the EU agreed on a debt policy goal for Greece needed to free up aid for the cash-strapped country. But it looks as if the revenues are limited to 1.3000 marks and hands this week, who chose to go ahead sidelines decision of 13 December and the U.S. financial negotiations rock.
On the technical side, it looks as if the Euro says breath before it will break and stay above the 1.3000 level psychology, but at this level, it is best to stop the lateral line and see how it plays out.