Negative market sentiment precipitated by growing concerns that the Greek debt crisis will spread to further economies in the Euro-Zone boosted the safe heaven USD and JPY. As investors flee riskier assets such as stocks, commodities and currencies of emerging market, the USD and JPY rose for their perceived safety. The USD is currently traded at $1.2839 versus the EUR and at 93.83 Yen.

While news from the Euro-Zone will likely dominate today's trading as well, investors should follow the release of the Unemployment Claims at 12:30 GMT, particularly in light of Friday's release of the Non Farm Payrolls Report as well as Fed Chairman Bernanke's testimony at 13:30 GMT for any clues on the future of monetary policy and interest rate hikes.