Talk that Germany is looking to bailout Greece helped spur the Euro higher against other major currencies, bouncing off eight month lows. Having been hit hard over the past couple of weeks, a possible bailout has helped raise confidence in the 16 state currency. If approved, this will be the first rescue in the 11 year history of the single currency. The school of thought is that an announcement may be made on Thursday when leaders are scheduled to meet.

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Market News

  • German Chancellor Angela Merkel stated that any help would come under strict conditions and only if the Greeks undertook far reaching state reform
  • Fed Chairman Ben Bernanke is due to release his prepared testimony to the Financial Committee today
  • The Bank of England inflation report is scheduled for release today at 1030 GMT - this will provide further insight in to the health of the UK economy
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