Hi friends,

I am enjoying my Saturday at a movie theater with the family.

Coming back to trading, please find below a market recap for the FX markets.

We saw the US dollar take a hit across the board as worse than expected Non Farm Payrolls and IMF downgrades rocked the boat. However, it staged a minor comeback with CPI figures in line and consumer sentiment still strong.

Greek tragedy is in continuation while some of the largest banks in Europe have exposure to Greece, it only comprises about 5 billion euros. However fresh news today reported that Central banks in southern European countries (including Cyprus, Albania and Bulgaria and Turkey) have been asking their banking subsidiaries to exit all exposures to Greek state bonds and T Bills.

24th April is D DAY to come up with a deal with its European partners. It has to pay off Euro 80 million to the ECB on 20th April and Euro 200 million to the IMF on 1st May.



Thanks for reading my trading blog.
bharatholsa
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