Global macro overview for 21/09/2015
Alexis Tsipras’ Syriza party has been given the credit of confidence again after winning the Greek elections in the weekend, but secured only 145 of the 300 seats in parliament. There is a high possibility that Tsipras will seek a coalition with small right wing party called Independent Greeks that currently have 10 seats. Nevertheless, the Greek people has given his party a fresh mandate built on the recent successful bailout negotiations with the creditors. Moreover, they gave a clear message to the rest of the EU members that they want to be a part of the EU even if this means more austerity measures in the near term.
The EUR/USD pair did not react that much to the Greek election results, and it is trading in the daily support zone around the level of 1.1268.
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