Just when some investors may have been getting ready to spend money on some riskier assets comes along the reminder that major questions and concerns hover over the global marketplace. The BoJ more or less made it official in the early hours that they will not undertake the full policy that Prime Minister Abe has pushed for, meaning that the JPY may not weaken too much further for the time being. Not only did the JPY gain this morning, but the Nikkei has sunk like a rock and caused residual declines on Asian bourses like the Hang Seng.

And from the U.K. news has filtered out that Prime Minister Cameron will try to push forward a mandate that will give British voters a chance to say they want to leave the European Union in a few years time. While it has been accepted loud and clear that the U.K. has no intention of joining the Single Currency, leaving the E.U. and all of its governing bodies is another issue altogether. While France and Germany watch their relationship sour amongst each other, if the U.K. were to decide to actually leave the E.U. the grand experiment on the continent would suffer a considerable setback. The EUR has traded slightly lower this morning and the GBP has dropped against the USD further.

Gold has consolidated near 1692.00 USD as it stood virtually in place yesterday. Crude Oil continues to stay near its highs and the question is if speculators have more ammunition in their holsters to drive WTI up further.

It must be said that the ZEW reports from Germany and Europe showed robust gains yesterday with much stronger economic sentiment expressed. On Thursday Manufacturing PMI data will come from France and Germany giving Europe yet another chance to show that fundamentals have improved.

From the States yesterday Existing Home Sales fell slightly. Today will be a quiet day of data from the U.S., tomorrow weekly Unemployment Claims and Crude Oil Inventories will be published. Wall Street essentially languished on Tuesday as traders sat on the fence. More quarterly earnings will come from the corporate front today with the likes of Abbot Labs and McDonalds both reporting.