Crude oil traded at another record high of US$120.36 due to concerns over the supply remaining in Nigeria.
Euro rebounded a little by the end of last week as the European Central Bank is winning over Europe's political leaders about focusing on inflation despite the economy slowing. Due out today is the PMI Services, which is expected to be better than previous.
This week there is plenty of pressure on the Bank of England as the rate announcement is well awaited for by the market. Despite the strong chance that it is going to be kept on hold, there is still that little bit of speculation in the market that there may be a 0.25% cut. The main data due out today for the UK is the PMI Services, Nationwide Consumer Confidence, both below the previous month.