Wednesday February 13, 2008 - 21:34:07 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The USD is closing in N.Y. roughly steady against the EUR and GBP from late Tuesday levels. The JPY and CHF (carry funding currencies) are firmer once again. The two fnding currencies followed the lead of equities again.
- Earlier EUR/USD was weighed down by weaker than expected E-Z industrial output data and better than expected U.S. retail sales.
- The BOE quarterly inflation report suggested that three rate cuts for this year remain in the pipeline. The bank made it clear that it is fighting a difficult inflation battle. The latest average earnings data (January) were softer that forecast.
- The commodity currencies (AUD and NZD)were mostly sharply weaker. The CAD is stronger. Gold and oil are mixed.
- Eallier Asian bourses closed mixed following a strong start. European bourses closed mixed to weaker. U.S. equities closed higher. U.S. bond prices were steady to lower.
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