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Friday, April 6, 2012

Holiday session

All is expected to be very quiet today with most markets closed for Good Friday, and many traders having already exited for the long weekend. The European calendar is extremely light with no meaningful economic data releases, while things could get a bit more interesting into North America with the US monthly NFP employment report. Still, with equity markets closed and razor thin conditions, any movement on the back of the jobs number will need to be taken with a grain of salt until normal market conditions resume next week. Markets are forecasting a healthy print just over 200k, with no change anticipated to the 8.3% unemployment rate. Any significant departure from the consensus estimate will likely make for some choppy trade on the thin conditions.

We will sit on the sidelines. Do not trade during mixed sentiments, news, and holidays is one of our mantras.

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