Greece Action and Jobs Data on the Horizon

The breakdown of talks between Greece and its lenders has created a turbulent start to the week ahead for markets that have largely been taking a complacent view of the crisis.

U.S. stock futures were sharply lower Sunday night as investors weigh the possibility of a Greek exit from the euro zone after the talks toward resolving its debt crisis failed.  Greece’s Prime Minister Alexis Tsipras set a referndum for July 5 and Greece instituted a bank holiday as Greeks rushed to ATM machines.

“We expect equity markets to suffer broad declines,” says Marc Chandler, head of foreign exchange strategy at Brown Brothers Harriman. Chandler said he expects the euro to weaken and investors to move into yen and Swiss francs, in a safety trade.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.