The EUR has seen better times in its recent past. Today, however, is a different story. The 16-nation currency has plunged against almost every major currency counterpart and currently sits in a bearish posture versus the majority of them still; the only exception being the British Pound, which the EUR apparently is outpacing despite its significant setback in fundamental data. The EUR/GBP pair is currently trading near the 0.8700 mark, up from its recent low of 0.8600 seen last Friday.

The financial problems of Greece are still weighing heavy on the Euro-Zone, but last week's World Economic Forum (WEF) meetings helped shed some light on the approach the Euro-Zone's financial leaders are taking towards that debacle.The EUR is scheduled to be nearly absent from today's market news, however. With one minor release due towards market opening hours in Europe, the region will be strangely missing and the EUR may take a short-term fall as a result.

On the other hand, with a variety of reports due from Britain and the United States, there's a chance that the EUR will benefit if these other countries provide negative data. Today's important releases will be the Manufacturing PMI figures from Britain and the US, and the EUR will react to these reports in a way befitting the currencies of those countries following these releases.