Thursday January 10, 2008 - 21:34:18 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The USD is closing broadly lower against the majors.
- Comments by Fed Chairman Bernanke were far more aggressive in favor of ease than the markets had been expecting. It appears that Bernanke signaled a -50bp Fed Funds rate cut at its January 30 meeting and possibly also aggressive ease thereafter.
- U.S. equities wound up higher on the day on hopes for Fed economic stimulus. Bonds prices closed mixed.
- The BOE policy decision was to hold rates steady. The ECB steered steady course as well.
- The commodity currencies (AUD, CAD and NZD) closed higher. Gold is firm, while oil is easier.
- Friday sees the release of November U.S. trade figures.
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