In Europe, Italy's decision to close two failing banks has resulted in lifted financial stocks. The decision to hand their good assets to Intesa Sanpaolo, who is the country's strongest lender, has also contributed to the improved status. In addition, oil prices have continued to pick up, putting Italy's Stock Exchange on the radar of speculative investors. Though Italy's debt crisis has not changed significantly, this offers the country long-awaited good news.

In the UK, supermarket operators have reported their highest industry growth in five years. Sales climbed to an impressive five percent in the last 3 months, while food prices rose 3.2 percent. Although boosted sales could prove favorable for the British economy, consumers have begun feeling the effects of the heftier prices, which comes at a time when the Pound is not at its strongest.

The US suffered an unexpected drop in US orders for equipment. This revelation tags along with present concerns regarding its struggling oil market and jointly hints at possible inflation. Investors are awaiting a key speech by Federal Reserve Chairman Janet Yellen for insight into the direction the American economy could take. If increased interest rates are approved, it could prove positive for the US Dollar, while further negative influence from an oil industry in turmoil may pull the Dollar down, irrespective of the Federal Reserve's decided path.

Also in the US, today's CB Consumer Confidence update will be providing all-important information regarding the buying habits of Americans. A rise in spending and consumption will allow the Dollar to creep up the financial charts, whereas lower figures, hinting at a possible decrease in wages, will bring about a reverse effect.

Today the Bank of England will be releasing its Financial Stability Report, which only occurs twice a year. The increase in credit card debt may trigger a drop beyond the Pound's leeway point. On the other hand, the reported rise in mortgage approvals could seal up any unwanted cracks within the British Economy until today's end.

Central banks in Europe are in favor of upping inflation, preferring to steer clear of risks resulting from lowered inflation. But with this comes another risk – losing the faith of consumers, citizens and the market. It comes down to the lack or abundance of money supply throughout Europe, and today's Money Supply report will shed light on the topic.