Wednesday January 2, 2008 - 11:04:15 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- Markets are gradually getting back into swing for the new year. They will not all be fully open until next Monday.
- This is an important time of year as traders reposition themselves after many had squared up. The USD bearisness so far has persisted. On the other hand, the GBP continues to look vulnerable.
- The U.K. mfg PMI was weaker than expected, while the flash E-Z mfg PMI was revised higher. The U.S. ISM PMI is due later. It is hovering just above the key 50 line. The latest Fed meeting minutes are due.
- The commodity currencies (AUD, CAD and NZD) are up strongly. The Australian manufacturing PMI was stronger than anticipated.
- U.S. stocks are seen opening higher. Bonds are weaker.
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