Last week positive readings were released with surprisingly elevated reading for the Canadian Ivey Purchasing Managers Index (PMI) rising to 64.1 from63.5 in December suggesting a major improvement in the market’s future activity and better than expected housing data with a boost of 11.1% in the Canadian building permits, highest jump since June 2007. Is Canada on a strong recovery path? Let’s Start:

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:

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

USD/CHF has been trading in range, mirroring euro/dollar. The markets continue to wait for a deal with Greece, as the crisis in Europe continues. This past week saw a break in the action, as the Euro and franc rallies against the dollar ground to a halt.

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

World Economic Forum (WEF) Annual Meetings – Day 1, this time is held in Davos for Bankers, Political, trade & finance Ministers and Commercial leaders from around 90 countries. Can influent market volatility.

Increased speculation about a Greek default and concerns about the eurozone did not affect the aussie, as traders were busy snapping up the Australian currency this week.

We summarize this week Existing Home Sales in the US and Retail Sales in the UK are the major events this day. Here is an outlook on the market-movers awaiting us.

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

In the US, Unemployment Claims, weekly report to value the unemployed that filed for insurance, due to reduce by 10K from the last month down to 389K.