The Greek elections have come and gone with a victory for the Syriza party and it will now seek to form a government. The Euro initially sold off in early Asian trading but has subsequently bounced back and is trading up .55% on the day. This move appears corrective in nature with the general trend for a weaker Euro still very much intact. Sterling is stronger after some hawkish comments over the weekend by several Bank of England officials. The next major event for the market will be the Fed meeting which finishes on Wednesday after a slew of economic releases for the US on Tuesday , namely Durable goods ( DEC) ,S$P/case Shiller Home Price, Markit Composite and Services PMI flash ( JAN) , New Home Sales ( DEC), Consumer Confidence ( JAN) and the Richmond Fed Manufacturing Index ( JAN).
C$ Current 1.2440 Range 1.2415 – 1.2476
Resistance 1.25 Support 1.2368