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

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.

At first, things were looking good for the euro – the single currency enjoyed Draghi’s confidence regarding the success of the LTRO operation. The aversion of a credit crunch is far from certain, after Friday’s events. France lost its perfect AAA rating, together with other euro-zone countries. In addition, Greece is on the brink of default after the talks about a haircut broke down. Will the ECB replace the private sector and take a hit on Greek bonds? Greek banks are in worse shape than estimated. Together with the breakdown of Greek PSI talks, the Greek troubles are not priced in. While Germany and Spain look better (and this pushes the euro higher), Italy remains in trouble, Portugal moves closer to default and Greece is widely seen as defaulting.

In the US, Dennis Lockhart, Federal Reserve Bank of Atlanta President is due to lecture in Atlanta.

Britain’s current account deficit leaped to 15.2 billion pounds. Early expectations were much lower, a deficit of only 5.6 billion in Q3. In Q2, the deficit stood on only 2 billion pounds.

In the US, Unemployment Claim, weekly report to measure who filed for the first time for unemployment cover, is due to rise by 10K from 366K up to 376K

In the US, Building Permits the annualized amount of residential permits released in October was well beyond predictions reaching 650,000 after 590,000 in the prior month. A small drop to 630,000 is expected now.

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

In the US, National Association of Home Builders (NAHB) Housing Market Index is expected to rise by 1 point up to 21 points on this monthly survey.