Presumably, the renewed bid tone in the markets over the past 24 hours has been primarily driven off the fact that Greece has secured a 95% take up rate for the debt swap deal. Market participants have found comfort in this fact and the successful passage of the deal will help eliminate any added unwelcome uncertainty in a still shaky global macro environment. However, from here, we are not all that confident in the prospects for additional risk buying on Friday and things are expected to pick up into the latter half of the day with the all important monthly US NFP data, immediately followed by the EU’s final decision on Greece’s second bailout.
I don't see any setups tonight. Non Farm Payroll data coming out and that is a vital news release. We will sit on the sideways and take another break. Lets relax tonight!
Friday, 9 March 2012
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