Pro-Bailout Parties’ Victory in Greek Election Buoyed Sentiment

Market sentiment was lifted as New Democracy won the election in Greece and pro-bailout parties would be able to control the parliament. The euro rebounded while Japanese yen and the US dollar plunged. The next key event would be the G-20 meeting in Mexico and the FOMC meeting, both will be held this week. In the commodity sector, crude oil prices climbed higher buy gains were pared soon. The front-month contract for WTI crude oil initially rose to a 5-day high of 85.6 before falling back to 84.5 while the equivalent Brent crude contract climbed to as high as 99.5 before slipping to 98.5.

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Pro-Bailout Parties’ Victory in Greek Election Buoyed Sentiment