Today we have seen a fairly jumpy Euro still being at the forefront of investors minds and I think the key is Spain managing to avoid officially asking for a bailout.

There is no smoke without fire and currently we have a huge amount of smoke hanging over Europe as a whole so I am sure there are some fairly tasty flames underneath these smokeclouds.

The pound has finished the day hanging close to a four year high against the Euro once more and I feel as the week goes on (unless data from the U.K is terrible) this rate will push up even further.

Tomorrow we have inflationary data from Australia very early in the morning so anyone with AUD interest may wish to put protection in place by means of a stop loss or limit order overnight. U.K GDP data is also out at 09:30am on Tuesday morning and after a fairly poor performance from the U.K of late any sign of things looking up and the Pound may have a good day. Lastly on Wednesday later on in the evening those with an interest in New Zealand Dollars should be aware we have the interest rate decision for New Zealand at 10:00pm. No major changes are expected however a sudden cut in rates could lead to a sharp weakening of the NZD overnight