There was strong numbers from Germany with their CPI figures showing an upturn of 0.6 month on month which was above expectations. It showed that the ECB are going to have problems curbing inflation and any chance of them reducing their interest rate looks increasingly unlikely in the near term.
The price of oil is a worry to all at the moment and although the price of crude oil came down yesterday morning to boost the dollar it rose again by end of trading in the US to wipe out earlier gains.
Sterling was one of the main benefactors yesterday afternoon breaching the 1.98 level on cable and almost reached the 1.27 level against the Euro. The Aussie dollar once again performed well and broke through some significant barriers versus the Yen yesterday.
This morning we have already had the Nationwide house price survey confirm the dire state of the housing market in the UK and later this morning we have the German unemployment number due. The things to watch out for later in the US are their GDP numbers due at 1.30 UK time and also the speech due later from Mr Bernanke.