Monday March 3, 2008 - 11:35:23 GMT
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FX Blog Market Snapshot-- Europe Mid-Session 3 March 2008
GVI Market Snapshotâ€” Europe Mid-Session
- The EUR and GBP are about steady vs. the USD from late Friday levels. The carry trade financing currencies CHF and JPY are stronger. The strength of he JPY weighed heavily on the Nikkei today.
- Commodity currencies (AUD, CAD and NZD) are mixed vs. the USD. The RBA and Bank of Canada policy decisions are due on Tuesday. A rate hike is expected from Australia while an easing is widely seen in Canada. Gold is stronger, while Crude (WTI) is about steady.
- The European manufacturing PMIs came in range of expectations and did not display any special weakness. The ECB will be in no hurry to ease policy. The U.S. February ISM manufacturing PMI will be closely watched today.
- Asian bourses closed mostly lower today. The Shanghai Composite improved. Key European bourses are weaker. U.S. stocks are seen opening weaker as of this hour. U.S. bond prices are lower. This is an active week for U.S. data releases.
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