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.

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

These are good news. GBP/USD ticks up.

In the US, Unemployment Claims, The number of individuals who filed for unemployment insurance over the last week, is due to rise up from 367K to 390K.

In the US, Crude Oil Inventories, the number of crude oil barrels in inventory over the last week, is about to remain 4.2M similar to the last week’s report.

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

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

The Purchasing Managers’ indices in the UK were generally better than expected in January, and an official recession now seems less likely. However, another round of QE by the contral bank seems inevitable. Despite stronger US growth, the pound has had a spectacular run, rising over 500 pips against the dollar since mid-January.

Last week, Gross Domestic Product edged down 0.1% in November following no growth in October. This is the first decline since May 2011 which was contrary to economists expectations of 0.2% expansion. The main drops occurred in the energy sector with oil and gas sliding 2.5% but the manufacturing sector increased 0.6% on durable goods. Employment data were weak with a rise in the unemployment rate, but the excellent job figures from the US provided lots of hope. Will we see better results next month?