Remember the Bill Murray movie where he wakes up every morning and he is reliving the same day?
Seems like we are reliving the same day in forex markets with Greek contagion weighing on sovereign debt, banking shares and sentiment in general.
Commodities continue to lose ground in anticipation of a global slowdown/recession, interest rates fall further into record-low territory and the dollar continues its surge.
Factory orders (expected unchanged) are the data highlight from the US today while Bernanke’s testimony before the Joint Economic Committee will be the marquee central banking event.