Tuesday January 8, 2008 - 21:23:31 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The USD is closing mixed against the majors as dealers continue to look for direction for the currency in the early days of the new year. There were several rounds of rumors about CDOs and Countrywide Mortgage.
- The EUR and GBP are higher vs. the USD, while the JPY is weaker. The CHF is steady.
- Pending U.S. home sales were released. The headline figure was weaker than expected, but after October revisions, the data were better than expected.
- The commodity currencies (AUD, CAD and NZD) ended better. Gold was up strongly while oil gained. Dealers are still looking for a reason for the uncoupling of gold and oil.
- U.S. equities closed sharply lower. Bonds are better.
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