The ongoing debate regarding Greece’s financial situation is still the main market focus, all indications are that this is set to continue into the next coming weeks. Although there was initial enthusiasm over the expected bailout plan these feelings were reversed to disappointment as no solid rescue scheme was decided upon.

With no economic data released in the UK, sterling had a mixed day yesterday as it tried to regain the losses made from the previous day’s session following the comments from the Bank of England. The uncertainty surrounding the EU bailout of Greece ultimately helped the pound to session highs against the single currency.

US data was thin on the ground as heavy snow limited date releases from Washington DC. Retail sales were postponed and are due later today. However weekly jobless claims were announced and saw a fall providing further eveidence of a recovery at full steam in the US.

With no local data of note once again, today sees the release of Euro Zone GDP and industrial production. Over in the US, retail sales, the Univeristy of Michigan economic survey and business inventories round of the week’s data releases.