Friday February 15, 2008 - 11:53:44 GMT
Share This Story
Global-View - www.global-view.com
FX Blog: Market Snapshot Europe Mid-Session 15 Feb 2008
GVI Market Snapshot-- Europe Mid-Session
- The USD is opening mixed in N.Y., weaker against the EUR and firmer vs the GBP from late Thursday levels. Carry currencies are mixed, the JPY is weaker on its crosses while the CHF has maintained yesterday's gains.
- The markets (especially long-term bonds) suddenly have become uncomfortable with the accomodative Fed. In his Congressional testimony, Chairman Bernanke seemed to acknowledge that the economy could be weakening further and that additional monetary accomodation is likely. His comments drove the USD and bond prices lower. Gold and oil gained. The trading pattern of the markets suggested worries about inflationary pressures down the road.
- The commodity currencies (AUD, CAD, NZD) are higher. Even the CAD has improved.
- Asian bourses closed mixed. The BOJ kept policy on hold, but Governor Fukui focused on prospective weakness in the economy. Key European bourses are better. U.S. equities are seen opening about steady to higher at this hour. U.S. bond prices have gained.
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."