ECB President Mario Draghi left rates unchanged and expressed a lot of confidence in the press conference. In a last moment statement, Draghi also left the door open for an ECB contribution to Greece. Unfortunately for Greece, it first has to comply with the troika’s demands and pass harsh austerity legislation, before it is awarded any help.

In the US, CB Consumer Confidence increased more than predicted to 64.5 in December from 55.2 in November indicating an elevated confidence among households. A further improvement to 68.2 is expected now.

Ben Bernake’s extended rate pledge and hints of QE3 certainly helped weaken the US dollar. In Canada, the leading index continued rising with a 0.8% gain in December after climbing 0.9% in the previous month suggesting positive growth. Retail sales gained 0.3% in October supporting predictions while Core sales topped expectations with 0.3% climb. Will the Canadian market continue its growth this week?

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:

After a few minutes of choppy trading, the dollar is strengthening against all currencies apart from the yen. The disappointment, especially with the components of the weaker than expected growth, triggers risk averse trading, after a week that was full with optimism and even euphoria. EUR/USD is under 1.3130 once again.

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

Here are all the details, and 5 possible outcomes for EUR/USD.

GBP/USD is rising. It fell before the publication. It seems that rumors were out there and now the pound is “rising on the fact”. Data leaks aren’t that uncommon in Britain.

Here are all the details, and 5 possible outcomes for GBP/USD.

Unemployment in the UK remains high at 8.4%, making an economic recovery difficult. With a drop in inflation reported last week, the likelihood of the Bank of England expanding its QE program in the upcoming meeting in February are on the rise.