Greece

The Greece issue seems to be only getting worse. Their funding costs to service the massive amount of debt they are dealing with went up overnight with S&P cutting their long-term debt rating three notches to BB+ from BBB+ with a negative outlook. They are now 'junk' status.

Inflation
Inflation numbers will be closely watched today for indications as to whether the RBA will pause or hike next month. If the figure is on the high side there will be a leaning towards a hike. Expectations are for 0.8% rise for the qtr.