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Session Recap: ‘Grexit’ rumours on the rise

FXStreet (Edinburgh) - The greenback is trading on the back footing vs. its main competitors at the beginning of the week, despite Greek concerns keep weighing on the rest of the European markets.

In the meantime, markets continue to digest last Friday’s Non-farm Payrolls amidst increasing market chatter regarding the probability of Greece leaving the euro area. While the US dollar is advancing vs. the sterling and the Swiss franc, it is retreating vs. the euro, Japanese yen, Canadian dollar and the Antipodean currencies.

In the data space, German trade surplus came in above estimates at €21.6 billion in December and the Investor Confidence tracked by the Sentix index in Euroland surged to 14.2, the highest level since February 2006. Across the pond, the Labour Market Conditions Index (LBCI) will be the main release in the US docket.

Amongst the main losers in Europe today, the Spanish IBEX35 is down almost 2% while the German DAX is losing 1.8%, CAC40 down 1.3% and the FTSE100 following suit, 0.98%.

Other headlines in Europe

Euro will collapse if ‘Grexit’ happens - Greek Fin Min Varoufakis

US labour market remains strong – Danske Bank

Gold speculators trim overall bullish bets in Gold

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