The Euro is down across the board on Monday amid concerns that peripheral debt problems are resurfacing. Issues began to resurface last week, culminating on Friday when the 10-year Irish Bond yield stood at record spread over the comparable German debt and similar Spanish/German yield Gap rose to its highest since mid-July.

December Crude Oil continued its downslide on Tuesday due to demand concerns and growing inventories in the U.S. Since breaking Fibonacci support at 76.45 on August 19, crude oil has dropped over $3.00 per barrel to the July 6 bottom at 73.15. If downside momentum continues, the market should test the May 25 bottom at 71.50 shortly.

The Euro rose against the Dollar overnight buoyed by concerns that the weakening U.S. economy may be slowing the recovery. Based on recent data and testimony from Fed Chairman Bernanke, investors are bracing for a weak Second Quarter GDP report on Friday. This is driving investors into the Euro as the Euro Zone economy seems to be improving faster than the U.S.

The U.S. Dollar is trading higher against most currency markets this morning ahead of the opening in New York. Although the Greenback closed lower on Tuesday, it started to regain earlier losses about mid-session on concerns about a slow down in global growth, European bank stress tests and short-term oversold conditions.