Friday January 11, 2008 - 11:04:06 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- The USD is opening higher against the Europe. Talk of risk aversion demand for the JPY.
- Markets are still digesting the more aggressive than expected easing comments by Fed Chairman Bernanke on Thursday. 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 are seen opening lower later. Bonds prices are mixed.
- Dovish comments by BOJ Governor Fukui today further fueled market speculation about early BOJ ease.
- The commodity currencies (AUD, CAD and NZD) are barely changed. Gold and oil are about steady.
- Today sees the release of November U.S. trade figures.
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