During today’s early trading session, Asian markets were lower as concerns over Greece weighed down on sentiment. Investors await to see whether the government will reach a compromise before the current bailout expires later this month. Despite positive Australian Home loans data, currency markets traded with low volatility this morning, as Japanese markets are closed for a public holiday.

European stocks are trading lower after Minister Yanis Varoufakis won a parliamentary confidence vote for its disagreeance to extend the existing bailout agreement. Once expired it could cause the country’s exit from the EU. Currency markets are trading cautiously today ahead of Greek talks, and due to lack of European data. Volatility should pick up after a number of releases tomorrow, including the German CPI and HICP reports.

During early US trade oil continued to drop and is currently trading below $50 a barrel. This decline came after the the International Energy Agency (IEA) warned about global supply and demand. At the opening of the American session, the Dollar jumped against the EUR, Yen and the CAD after the currency is boosted as a safe haven asset due to the political situation in Greece.

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