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The euro has fallen against most major currencies this morning, as euro zone debt fears loom over the foreign exchange markets. Against the dollar, the euro slipped below the $1.30 mark for the first time since mid-February, and also hit a two month low against the yen. And while the euro slides, Spanish bonds are also being hit. The yield (effectively the interest rate) on the 10-year Spanish bond has jumped over the 6% mark this morning, to 6.09% at pixel time. Italian bond yields have also risen, with the 10-year yield nudging 5.62%. German bonds, through, are in demand, driving down the yield on the 10-year bund to a new record low of just 1.628%. These are all signs that the crisis is heating up again. As Brenda Kelly, senior market strategist at CMC Markets, comments: The pressure on its bond yields and over-dependence on ECB funding is adding to the mounting evidence that Spain will in fact need a bailout. This has re ignited the fears that should this occur, that the Euro zone will be courting disaster with what is deemed by the markets an insufficient firewall, particularly if Italy follows suit. It's a pretty quiet agenda today. We get the latest euro zone trade data this morning, and the details of the European Central Bank's bond purchases this afternoon. US retail sales data could move the markets this afternoon: In the bond markets, France and the Netherlands are holding debt sales this morning. And the announcement of the next leader of the World Bank should also come this afternoon. You need to sell a lot of Euro denominated debt, easier the cheaper the Euro. You need to create millions of jobs for unemployed Europeans, easier the cheaper the Euro. You need to pay back millions of trillions of Euro's and you don't have them, well who invented the printing press?