Monday December 17, 2007 - 11:14:39 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- This remains a liquidating market. EUR/USD bottoming attempts have failed so far. Still many feel the USD demand is a yearend phenomenon that wont last after the turn.
- The USD trading broadly higher vs. most of the majors. Data on Friday also were not supportive of aggressive Fed ease.
- The JPY is trading about steady.
- The commodity currencies (AUD, CAD and NZD) are weaker.
- Equity markets are currently seen opening lower. Fixed income prices are better.
- Today sees the first USD 20bln tranche of the Fed special funding repo.
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