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Cyprus likely to extend bank holidays on Tuesday and Wednesday

FXstreet.com (Barcelona) - The Cypriot cabinet announced over the weekend that both Tuesday and probably Wednesday, a bank holiday will take effect. Fears are mounting over capital flights out of the banks after depositors were told the taboo decision of having to pay for the wrongdoings of the countries financial management.

According to Greek newspaper eKathimerini: "Nicosia postponed to Monday the tabling in Parliament of the bill including the measures for the Cypriot bailout – including a bank account haircut and tax hike on interest and corporate earnings – but the ECB insists on a rapid voting as there are already signs a domino effect will follow across European lenders and markets from Monday."

"Skai radio reported on Sunday that the Bank of Greece has sent between 4 and 5 billion euros to Cyprus in order to help Cypriot banks respond to cash requirements by their clients" eKathimerini adds.

United Kingdom Rightmove House Price Index (YoY) increase to 1.2% in Mar from 1.1%

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Forex: AUD/USD holding the fall above 1.0350

Aussie has dipped against USD today in early Asia-Pacific from previous Friday's weekly close above the 1.04 mark, last at 1.0354, off 1.0341 session lows, on the back of market fears from Cyprus bail-out news coming out of the EU. The pair is down -0.51% for the day so far, while local share markets are selling off on this new risk-off mode. Oil is down to fresh session/2-day lows around the $92 mark, while Gold spiked above the $1.6k figure, highest in last 3 weeks.
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