The euro rose today after last week's euro zone agreement on emergency financial aid for Greece, but retreated from a session high as markets awaited the outcome of the country's seven-year bond sale. The euro rose to 1.3505 today as Greece returned to capital markets for the first time since the euro zone agreed to a joint European Union-IMF aid package should the Greek debt crisis worsen. Last week, the euro fell to a 10-month low just under 1.3300 against the dollar prior to the EU summit. The issue of the Greek bond is set to raise 5 billion euros, a source at one of the banks charged with selling the debt said, but could price at around 6 percent, more than twice the yield that Germany pays on its debt. If the issue of this bond is successful, we could see the euro testing the 1.3650 levels this week. However, it could just tempt traders to go short again on the currency.
The Crude Oil rose by 3% today as a weaker dollar and stronger equities markets bolstered by economic data helped the Crude Oil reach a session high of 82.75. However, Investors are optimistic about the U.S. economy, with payrolls data due later this week expected to show employers added 190,000 new jobs in March, which could give the US dollar a boost.