Finance ministers won't make “definitive decisions” at the meeting starting at 5 p.m., Juncker said. He added that he was “quite impressed” with last week's Greek economic-overhaul package and last night's passage of the 2013 budget by a 167-128 margin in parliament.

Greece reported today that it beat its deficit target for the first 10 months of 2012, narrowing the gap to 12.3 billion euros ($15.6 billion) from 21.1 billion euros. The goal was to get the deficit down to 13.6 billion euros.

While the next aid disbursement won't be certified tonight, the ministers will find a workaround to prevent Greece from defaulting on a 5 billion-euro bill redemption on Nov. 16, a European official told reporters in Brussels on Nov. 9.

Eoin Treacy's view It has been a long time since anyone has expressed optimism about Greece but it is looking increasingly likely that the country will be allowed to draw down the next round of funding. This should help to further ease fears about a disorderly outcome to the Eurozone's crisis.

The Euro Trade Weighted Index remains in a reasonably consistent downtrend and has paused in the region of the 200-day MA following an impressive rebound from the July Low. However, it will need to sustain a move above 122 to question medium-term scope for additional downside.