Thursday January 24, 2008 - 21:26:51 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The Soc Gen fraud disclosures announced today had been rumored about all week and could have played a role in the equity meltdown early this week.
- The markets are still trying to decide what impact this event had on the Fed decision to ease policy ahead of the January 30 FOMC and how it will impact its decision on that date.
- Equity markets continue to play a leading role for all the markets in terms of confidence.
- U.S. equitities closed the day stronger on Thursday. European and Asian equities for the most part soared.
- U.S. Bond prices are closing lower in light of the better tone of stocks.
- The USD is ending sharply weaker vs. Europe. The JPY is about steady.
- The commodity currencies (AUD, CAD and NZD) are sharply higher. Gold is up, and oil prices are better.
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