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Athens - US Secretary of State Hillary Rodham Clinton, recovering from elbow surgery, has cancelled her trip to Greece at week's end for a summit with European foreign ministers, Greece's foreign ministry said Monday.

Clinton had been set to attend a meeting of the NATO-Russia council and the Organization for Security and Cooperation in Europe (OSCE) on the Greek island of Corfu.

The Cable is giving into our 3rd tier downtrend line after last week's push was blocked by our trend line and the psychological 1.65 level on declining volume.  Despite the GBP/USD's willingness to head higher, the currency pair is giving into its positive correlation with gold and U.S. equities.  Market sentiment is turning sour due to a combination of international tension (Iran/N.Korea) and the World Bank reducing its outlook for global economic growth from -1.7% to -2.9%.

Ramallah - Palestinian Authority Prime Minister Salam Fayyad said Monday that the fundamentals of a viable Palestinian state will be in place within two years at the longest.

Speaking in Abu Dis, in the West Bank, Fayyad called on all Palestinian groups, particularly the Islamist Hamas movement, as well as the international community to adopt a two-year time frame for an independent state.

The collision between our 2nd tier trend lines is approaching today, indicating volatility could increase over the next few trading sessions.  Looking off towards the Dollar's correlations, we notice gold made another decisive move south today once reaching an inflection point of its own.  Meanwhile, crude and the S&P futures are flirting with important trend lines.

We believe the Dollar could take its cue from gold and exercise their negative correlation, implying a decline in the EUR/USD.  As we mentioned in our previous analysis, the Dollar is at a T-Junction with the Euro, meaning we should see a trend statement soon.

Brussels - The European Union on Monday dismissed as "baseless and unacceptable" Iranian claims that some of the bloc's biggest members are trying to topple its
regime.

"The EU considers the accusations made by various Iranian authorities towards the EU and its member states concerning European interference in the Iranian elections
as baseless and unacceptable. All EU member states obviously stand united against accusations made towards individual EU countries," EU members said in a joint
statement.

London - A former cleaner at a childrens' home in Jersey where large-scale abuse is alleged to have taken place was Monday given a two-year suspended sentence for abusing boys under the age of 10.

Michael Aubin, 46, who lived at the home in the 1970s, is the first person to be sentenced in connection with the long-running scandal at the Haut de la Garenne home on the island of Jersey in the English Channel.