Tuesday February 19, 2008 - 11:14:44 GMT
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FOREX BLOG: GVI Market Snapshot - - Europe Mid-Session
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 Monday levels. There has been a focus again today on the divergence between the EUR and GBP vs. the USD.
- The carry trade funding currencies (CHF and JPY) are stronger.
- Some are citing risk aversion trades after more sub-prime write-downs today. Monday was a quiet session with U.S. markets closed.
- The commodity currencies (AUD, CAD, NZD) are stronger. RBA policy board minutes were quite hawkish and suggest that another rate hike in March is on the table.
- Keeping with the risk aversion theme, doth gold and oil prices are up strongly today.
- Asian bourses closed higher. Key European bourses are loweer. U.S. equities are seen opening about higher at this hour. U.S. bond prices are weaker.
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