After its first meeting of 2015, the U.S. Federal Reserve opted not to raise interest rates from near-zero percent levels. The statement provided the first updates on the U.S. economic outlook since the Fed's last meeting in December.

Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Labor market conditions have improved further, with strong job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish.

HSBC on Monday gave a preview of the Federal Open Market Committee's first meeting of 2015. The committee is expected to reiterate its focus on inflation.

Over the weekend, Greek voters elected the radical leftist Syriza party into power.

The outcome wreaked havoc on European markets, causing the euro to dip below $1.11 and sending 10-year government bond yields across the bloc tumbling.