Foreign exchange market. Asian session: Euro trades near 11-year low in early trading after Syriza victory

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00:00 Australia Bank holiday

02:00 New Zealand Credit Card Spending December +5.2% +4.5%

The U.S. dollar traded mixed against the most major currencies. The euro dropped to a low at USD1.1097 on concerns the Greek elections result could lead to instability in Europe but recovered during the session. The anti-austerity party Syriza won a decisive victory within two seats of the absolute majority. Alexis Tsirpas,the new Prime Minister, has pledged to keep Greece within the monetary union but wants to renegotiate Greek debt.

The Australian dollar extended losses against the greenback and trading below its lows established in May 2010 as oil continued to decline dampening demand for commodity-currencies. Today markets are closed I Australia due to a bank holiday.

New Zealand's dollar continued its fall and traded at the weakest since 2012 against the greenback currently trading at USD0.7440 closing in on lows hit in July 2012. Credit Card Spending rose at a slower pace in December at +4.5% compared to +5.2% in November.

The Japanese yen traded lower against the greenback on Monday although the Adjusted Merchandise Trade Balance rose from -925.01 to -712.1 billion on Sunday and Japan's exports rose more-than-expected by 12.9% in December driven by a weaker Japanese Yen.

EUR/USD: the euro traded higher against the greenback

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09:00 Germany IFO - Business Climate January 105.5 106.2

09:00 Germany IFO - Current Assessment January 110.0 110.6

09:00 Germany IFO - Expectations January 101.1 106.2

09:30 United Kingdom BBA Mortgage Approvals December 36.7

10:00 Eurozone Eurogroup Meetings