In early trading on Tuesday the EUR has moved slightly lower and has approached technical resistance points that helped create some bounce upwards in yesterday’s market. Gold is near 1647.00 USD and this comes on the heels of reports that several European nations have been selling large inventories of Gold recently (while Russia it has been reported is a buyer). Crude Oil is consolidating and appears to be in a tight range. Equity markets in Europe and the States for the most part moved lower among the major indexes on Monday.

There was not much in the way of data yesterday, but FOMC member Janet Yellen warnings about the American economy were stark in contrast to several of her associates and displayed her skepticism for all yesterday in Washington D.C. while discussing the employment numbers. It should be noted that Yellen was speaking at a AFL-CIO union conference. Today the U.K. will present plenty of inflation figures including the Consumer Price Index. However the spotlight may fall on Mario Draghi who is scheduled to speak to the Spanish government today in Madrid. It should also be noted that several FOMC members from the U.S. have speaking engagements this week which will get varying degrees of attention.

Europe’s financial crisis has merited more attention the past few days as elections approach in Italy and Cyprus and their potential outcomes are fretted upon. Continuing accusations of corruption in Spain have also added fuel to worries and caused several European Sovereign Debt yields to be more vulnerable. For all the negative talk however and the warnings from the ECB last week that price stability could become an issue if the Single Currency were to gain too much value, the EUR has still maintained its higher value against the USD.

It should be noted however that while the EUR has gained in trading vs. the USD that the GBP, AUD, and the JPY have all continued to display some signs of weakness for a variety of reasons within forex. Both the U.K. and Australian economies are showing signs of struggle. Business confidence in the U.K. is at lows, and the housing market in Australia has started to face strong headwinds.

Tomorrow Retail Sales statistics will come from the U.S. and Europe will publish Industrial Production data. On Thursday German GDP figures are on the docket. Yesterday’s trading opened on a cautious note and investors appear rather nervous with equities trading in these upper reaches.