During today’s early trading session, Asian markets traded lower as concerns over Greece continued to weigh down on sentiment. Yesterday talks between Greece and the European Union ended without reaching a compromise over extending the current bailout agreement, which is due to expire on February 28th.
During the European session, the Euro rebounded against the Dollar after yesterday’s sharp decline. On Tuesday the Euro dropped after talks between Greece and the EU collapsed without forming an agreement on the current €240 Billion Bailout. However, today trader’s sentiment was boosted after the release of positive data showing better than expected figures for the German ZEW Current Conditions and the release of the overall European ZEW Economic Sentiment. European stocks traded lower amid Greek concerns.
During today’s early US session, the USD index remained under pressure after the release of negative data.
Traders should await a number of important economic events taking place tomorrow including the BoJ Press conference, UK Average earnings index, USD PPI and the The Federal Open Market Committee (FOMC) Meeting Minutes.
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