Tuesday January 15, 2008 - 10:56:22 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- The USD is opening in N.Y. mixed against the majors. European currencies are about steady, The GBP has gotten some modest support from slightly hotter than expected inflation data. The JPY continues to gain on repatriation demand.
- The tone of the USD remains vulnerable with the Fed in a reflationary stance. Some say the GBP is vulnerable to the same influences. There is still talk about repatriation demand for the USD as a result of the sub-prime corrections.
- There is worry about the Citi annoucement shortly.
- The commodity currencies (AUD, CAD and NZD) are mixed. Gold is just above the $900 line. oil prices are steady.
- U.S. equities are seen opening lower. Bond prices are better. The strong JPY was a weight on the Nikkei.
- Today is an active session on the data front.
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