Thursday February 21, 2008 - 11:14:46 GMT
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FX Blog: Market Snapshot Europe Mid-Session 21 Feb 2008
GVI Market Snapshot-- Europe Mid-Session
- The USD is trading lower from late Wednesday levels. The EUR and GBP are significantly better. The GBP has gotten a big lift from stronger than expected U.K. retail sales. The carry trade funding currencies (CHF and JPY) are about steady vs. the USD.
- Forex dealers reacted negatively to the latest Fed meeting minutes. The minutes took a bearish view on the economy.
- The recent spikes higher in oil and gold prices continue to unsettle the markets. Gold is at a record price today.
- The commodity currencies (AUD, CAD and NZD) are narrowly mixed. Dealers are keeping a wary eye on the USD and commodity prices.
- Asian bourses closed mixed. Key European bourses are higher. U.S. equities are seen opening higher later. U.S. bond prices are mixed.
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