The outcome of the election in Greece will determine whether the Australian share market goes up or down on Monday.
Greeks go to the polls on Sunday to determine whether to endorse a conservative government committed to economic reform or a popular radical left administration which would likely see an exit from the euro.
There could also be another stalemate.
An exit from the euro would unsettle financial markets.
CommSec chief economist Craig James said everything was hanging on Greece.
"We had a positive finish in US and European markets, and our futures market is indicating a rise of 25 points, but that can all change depending on what the election result is," Mr James said on Sunday.
"It could be a much more significant gain if Greece opts to go with the conservative parties, but if it goes the other way, those gains certainly won't be realised at all."
Mr James said Australian investors may seek guidance on direction from the futures market in the US.
On Wall Street in the US on Friday, stocks closed higher after European markets lifted amid confidence that central banks would act to stop any adverse credit market impact should Greece leave the eurozone.
The Dow Jones Industrial Average gained 115.26 points, or 0.91 per cent, to 12,767.20 points.
The broad-market S&P 500 index rose 13.74 points, or 1.03 per cent, to 1342.84 points, while the tech-rich Nasdaq Composite index lifted 36.47 points, or 1.29 per cent, to 2872.80 points.
Investors' attention this week will also focus on a meeting of the US Federal Reserve on Wednesday.
It is hoped that the Federal Reserve will undertake new stimulus measures to boost the flagging US economy in the wake of a recent string of weak data.
The Group of 20 summit in Mexico on Monday and Tuesday will also be closely watched as leaders of the major economies grapple with Europe's crisis and other global ills.
In Australia this week, the minutes of Reserve Bank of Australia's June 5 monthly board meeting are published on Tuesday.
The Australian Bureau of Statistics (ABS) releases data on new motor vehicle sales for May, on Monday; and dwelling unit commencements for March quarter and international merchandise imports for May, on Wednesday.
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