Thursday January 17, 2008 - 21:25:48 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- A lousy Philly Fed reading just before the start of the Bernanke testimony today set the tone for the day. Equities closed down sharply.
- Bernanke was supportive of a fiscal stimulus in general terms and to maintained his dovish monetary policy view.
- Markets are still in the midst of digesting the sub-prime fallout.
- The EUR/USD closing about steady, just about at its neutral 1.4654 20-day moving average.
- The commodity currencies (AUD, CAD and NZD) are weaker. Australia data kept February rate HIKE speculation alive. Gold is lower, and oil prices are down.
- Bond prices significantly are higher.
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