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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During today’s early trading session, The Nikkei rebounded from its 7 and a half year highs as investors took profits.. Following the Reserve Bank of Australia’s Governor, Glenn Stevens speech, the AUD traded higher. Stevens backed the reduction in interest rates and possible future monetary policy in order to rebalance the economy.

During the European trading session, the Euro rallied against the Dollar after the release of positive data. Germany released figures showing that the fourth quarterly and yearly CPI both came in higher than expected. The EUR/USD is currently trading above 1.400.

Traders are currently awaiting US data, including the Michigan Consumer Expectations and Sentiment to be released at 15:00 GMT, furthermore, the US Federal Open Market Committee (FOMC) Member Fisher will be speaking at 18:30 GMT. FOMC members are responsible for setting interest rates and their statements are closely watched for indications on the future monetary policy.

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During today’s early trading session, the Nikkei reached 17,979, a 1.9% increase, its highest level in 7 and a half years. This rally came after Japanese data showed that yearly and monthly Core Machinery Orders had risen more than expected. Over the past year the Yen has continued to weaken and in turn boosted exporters such as Toyota and Sony. Following the release of the Australian Employment Change the AUD weakened against a basket of currencies after the report showed a decline of 12.2k.

During the European trading session, the British pound rallied against the Dollar after positive reports from the UK The Bank of England Governor Mark Carney, stated today “it is now more likely that CPI inflation will dip briefly below zero at some point in the first half of 2015”, but pointed out that there was “no threat of deflation”. Carney also said, “The take-home pay is expected to grow at its fastest pace in a decade”.

During early US trade the Dollar index dropped to 11,836 after negative data. The US Core Retail sales, Retail Sales and Jobless claims all showed worse than expected results. The number of individuals who filed for unemployment during the past week showed 304,000, above the expected figure of 285,000 and Retail sales dropped 0.8%. The Euro remains steady against the Dollar after no compromise has yet been reached in regards to the extension of the current bailout agreement.

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During today’s early trading session, Asian markets were lower as concerns over Greece weighed down on sentiment. Investors await to see whether the government will reach a compromise before the current bailout expires later this month. Despite positive Australian Home loans data, currency markets traded with low volatility this morning, as Japanese markets are closed for a public holiday.

European stocks are trading lower after Minister Yanis Varoufakis won a parliamentary confidence vote for its disagreeance to extend the existing bailout agreement. Once expired it could cause the country’s exit from the EU. Currency markets are trading cautiously today ahead of Greek talks, and due to lack of European data. Volatility should pick up after a number of releases tomorrow, including the German CPI and HICP reports.

During early US trade oil continued to drop and is currently trading below $50 a barrel. This decline came after the the International Energy Agency (IEA) warned about global supply and demand. At the opening of the American session, the Dollar jumped against the EUR, Yen and the CAD after the currency is boosted as a safe haven asset due to the political situation in Greece.

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During today’s early trading session, Asian markets were mixed after weak data out of China. The yearly CPI, monthly CPI and yearly PPI all showed lower than expected figures. Following the release of the positive Australian House price index, the AUD strengthened against the Dollar during early trade.

European stocks are trading higher after Greece has today offered a compromise in regards to the existing bailout agreement. Finance Minister Yanis Varoufakis said Greece will “implement about 70 percent of reforms already included in the current bailout accord”.

During early US trade, the Dollar continued to trade higher against a basket of major currencies as concerns about Greece’s future in the EU remained. Traders are keeping a close eye on the negotiations over the country’s debt and bailout. Later today, the US is to release the JOLTs Job openings, a higher than expected figure could strengthen the Dollar further.

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