It's a busy week for forex traders with lots of US data due, the ongoing concerns over Greece and an ECB meeting – all events which may move markets, says Saxo Bank’s John Hardy and here’s why.

With economic data seen as a key catalyst for when the US Federal Reserve may start to hike interest rates, markets are paying close attention to key US indicators. Hardy says he will pay particular attention to the nonfarm payrolls due on Friday June 5th as well as this week’s report on US earnings growth.

In Europe, there will be two big events this week to watch out for starting with a European Central Bank meeting on Wednesday - the first since it was announced that the ECB will frontload its QE programme.

In addition to that, there are the headline risks stemming from the ongoing debt talks between Greece and its international creditors, Hardy says. He sees a Greek payment to the IMF due on Friday as a soft deadline, warning that the talks could continue to drag on for most of June.