Friday February 22, 2008 - 10:49:22 GMT
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FX Blog Market Snapshot-- Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- The USD is trading lower from late Thursday levels. The EUR and GBP are leading the way. The EUR/USD has got a lift from the release of a stronger than expected flash EZ Services PMI. Subsequently EZ new industrial orders were much weaker than expected. The carry trade funding currencies (CHF and JPY) have also gained vs. the USD.
- Forex dealers reacted negatively to the much weaker than expected Philly Fed Survey yesterday and to talk about a possible impending reserve rejuggling favoring the EUR by the Russian Central Bank.
- Oil and but gold prices are about steady.
- The commodity currencies (AUD and NZD) are higher. The CAD is abou steady. Dealers have noted the recent uncoupling of the CAD from the other two.
- Asian bourses closed lower. The strong JPY was a weight on the Nikkei. Key European bourses are lower. U.S. equities are seen opening steady to higher later. U.S. bond prices are higher in what has been a volatile period.
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