Thursday December 6, 2007 - 10:55:54 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- The USD has continued to gain vs. Europe. The GBP is about steady ahead of the BOE decision shortly. The JPY is steady vs. the USD as well.
- The BOE decision is said to be on a knife edge. Weak U.K. Services PMI data yesterday reinforces the case for a rate cut. The ECB is about certain to hold steady.
- As for the U.S., much better than expected ADP private employment survey blindsided traders and saw some precautionary long liquidations of EUR/USD longs.
- The commodity currencies are mixed. The RBNZ kept rates steady, as expected.
- Equities are seemn opening stronger. Treasuries are weaker.
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