Tuesday January 22, 2008 - 21:25:15 GMT
Share This Story
Global-View - www.global-view.com
FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The Fed surprised the markets with a -75bp cut in the Fed Funds target to 3.50%. Another 50bp cut is now expected on January 30.
- The Bank of Canada cut its rates by -25bps, as expected to 4.00%. It also signalled future rate reductions.
- Earlier, Far East bourses had another difficult session following sharp declines on Monday. Europe ended mixed after the Fed move.
- Equity markets played a leading role for all the markets. They are likely to maintain this role in upcoming sessions.
- Bond prices ended up sharply following the Fed.
- The USD closed sharply lower vs. Europe and higher vs. the JPY.
- The commodity currencies (AUD, CAD and NZD) are ending higher. Gold is higher, and oil prices are better.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."