Going Long AUDNZD @ 1.27834, SL 1.27260 TP 1.2933 for 150pips

Trade taken on bases of Daily Bull divergence off daily pin bar on 26.6.12 and a fill of gap that formed on mon open price followed by H4 bullish price action signals

Unlike most wholesale banks, which typically shut over weekends, Oanda has offered continuous trading. But the company halted trading Sunday, June 17, the day of the closely watched Greek elections, to limit its exposure to big price swings.

"Maintaining a market when the international currency markets are closed represents a significant challenge," Oanda's chief technology officer, Tony Savor, said in the statement.

"In the absence of live market data, Oanda could still offer a price for each currency pair, but with no active market in which to hedge customer trades, Oanda was forced to take on greater risk," Mr. Savor said. "To mitigate this risk, it was necessary to increase spreads but this was deemed to be at odds with Oanda's objective of keeping client costs as low as possible."

Chief Executive K Duker acknowledged that "for some this change in trading hours will be an inconvenience" but said suspending weekend trade was "the obvious conclusion" considering the risks compared with the very low weekend volumes.

Spanish and Italian bond issuers put the brakes on in the second quarter, selling significantly less debt compared to the same period last year as the sovereign debt crisis escalated.

The volume of bond sales from Spain dropped 82% to $5.5 billion in the second quarter, and Italian volumes fell 75% to $8.8 billion, according to final figures from data-provider Dealogic.

NFP knocks the euro further down as USD gains across board. EURUSD has now taken out 1.2350 on the way down to 1.22. This now opens up a test of 1.20 in coming weeks. At some point the fed will have to intervene and weaken the USD (QE) before the global econ enters a nasty deflation spiral since euroland is delevaraging...