Last week ECB president Mario Draghi’s remark at the ECS press conference provided a loop hole to contribute to the Greek bailout, by suggesting to distribute profits from Greek bonds to Greece. Meantime Greece is in a vicious cycle while the austerity measures posed by the EU paralyze market activity lowering consumption which in turn produces less tax revenues to cover its growing debt. Will Draghi’s suggestion help the struggling nation? Let’s start:

Here’s an update on technicals, fundamentals and what’s going on in the markets.

In the US, Ben Bernanke, Federal Reserve Chairman, is about to speak in Orlando

Here’s an update on technicals, fundamentals and what’s going on in the markets.

Both events sent EUR/USD above the 1.3212 line and is now at the highest levels in 2012. It still has room until the next resistance level.

Here’s an update on technicals, fundamentals and what’s going on in the markets.

John Kicklighter of DailyFX discusses these topics, the upcoming rate decision by the ECB, the impact of British QE on the pound and more in the interview below.

In the US, Ben Bernanke, Federal Reserve Chairman, is due to testify in Washington DC.

Ben Bernanke weakened the dollar with an extended pledge for low rates: until late 2014. and a hint about the possibility of a third round of QE. While the US economy grew at a higher pace than in previous quarters, the pace is still moderate and seems insufficient for convincing the Federal Reserve to stop easing. PMIs and job figures are also an important part of the composition of the decision, and we’ll get fresh data now. Let’s start:

Also the Greek crisis seems to be moving forward, but this is likely just another twist in the long and never ending tale.