Traders should continue to monitor the situation in Europe regarding Greece and their ability to interact within the EU as it essentially threatens other members with a unilateral action – meaning that they will walk away from responsibility of their debt without making any concessions.
And traders need to understand it is about concessions at this point, because as much as they do not want to concede the point, Germany and others are going to need to negotiate with Greece. While Greece may claim that it will lurch towards a stronger relationship with Russia, we currently do not believe that this is entirely possible.
The EUR remains at low values, but has room to move lower still in our opinion.
Crude Oil continues to trade in a range.
Jobless numbers from the States per the Non-Farm Employment Change figures were better than expected and will no doubt fan some flames regarding those who think the Fed might become more hawkish.