Eurocurrency almost daily updates multi-year lows, which suggest themselves a long time but still scary for investors.
Another local minimum of the euro tested early on Monday morning, as soon as the news of the events in Greece appeared. These elections frightened by the prospect for a long time but the reality, which is opening now, perhaps looks simply destructive to many traders.
Syriza party, which is confidently won the Greek general elections - a party of young and strong, bold and self-confident people. They do not want to save money and will not pay old debts. They want to live here and now, to stop the "brain drain" abroad but without clear projects related with an unemployment rate and economic chaos.
By the way, the Greek economic system began a slow recovery (in macroeconomic indicators) only in 2014. And then Syriza appeared with its radical moods.
What is fraught with this "Greek Revolution"? The fact that the left movements in Spain, Italy, Portugal, Ireland immediately will “raise their heads" and begin to act with populist slogans such as "say no to creditors", completely forgetting about what position their economies had before the country's fiscal stabilization.
Of course, the methods that the Greek economy was treated were not the most effective and reasonable. But they worked. And now it is absolutely unclear what will be the economic course of a country where there are no natural resources and touristic business became very expensive.
Important economic events:
Tonight there will be released the data on US Fed Interest Rate Decision (currently at 0.25%), followed by Fed's Monetary Policy Statement, which may cause increased volatility in the Forex market.
On Thursday, Germany is to publish the latest data on Unemployment Rate (current value of 6.5%).
Also, increased volatility can be expected on Friday in connection with the publication of Japan's National Consumer Price Index (the current value of 2.4%), EU's Consumer Price Index (0.7%) and American Gross Domestic Product Price Index (1.4%).
Complete economic events in our calendar >