EUR fell to near 28-month lows against USD in anticipation of the key vote in Greece while Asian stocks rose and Wall Street showed new gains.
EURUSD currently trading at 1.21798, very close to its lowest value of 1.2165 in August 2012.
MT4 GRAPH: EURUSD
Greece is voting today to see whether the country's leading coalition will gain enough votes to elect a president. Former European Commissioner Stavros Dimas, the candidate for the leading coalition, needs to gather 180 votes in parliament to become president. If the vote is not gained, there is a possibility of a snap election that could lead the leftwing opposition Syriza party to power and ruin an international bailout plan for Greece.
Masafumi Yamamoto, a market strategist at Praevidentia Strategy in Tokyo, anticipates recovery for the euro if Dimas is elected as negotiations with the creditors will continue in this case.
"On the other hand, the euro could fall towards $1.21 if the 180 votes are not secured, as the market will ponder the risk of the left-wing Syriza party, which is against fiscal reconstruction, taking power after a snap election next year," said Yamamoto.
However, euro will still probably face downward pressure in the longer-term due to the prospects of further monetary easing by the European Central Bank in 2015.
MSCI's broadest index of Asia-Pacific shares outside Japan went up from 340.50 on Friday and currently trading at 344.05. Australian shares rose as well, currently trading at 5434.00
MT4 GRAPH: MSCITaiwan
MT4 GRAPH: Sydney200
Tokyo's Nikkei slid from 18005.00 on Friday to 17690.00 today on reports of a suspected Ebola case in Japan. However, the index is still on the upward trend of about 8% gain on the year.
MT4 GRAPH: Japan 225 (Nikkei)
The Dow [USA30] and S&P 500 [USA500] both closed at record highs on Friday but lost those gains on Monday.
MT4 GRAPH: USA30
MT4 GRAPH: USA 500
Trade forex and indices CFDs on STOCK.com with full training given to all clients