Monday March 3, 2008 - 21:32:41 GMT
Share This Story
Global-View - www.global-view.com
FX Blog- Market Snapshot Far East Open 3 March 2008
GVI Market Snapshot- Far East Open
- The EUR is ending about steady vs. the USD from late Friday levels. The GBP has eased. The carry trade financing currencies, CHF and JPY, remain stronger. The strength of the JPY weighed heavily on the Nikkei earlier on Monday.
- Commodity currencies (AUD and NZD) are firmer vs. the USD, but the CAD has eased. Reserve Bank of Australia and Bank of Canada policy decisions are due on Tuesday. A +25 bp rate hike is expected from Australia while a -25bp to 75bp easing is seen in Canada. Gold is ending well below its highs of the day, while Crude Oil (WTI) is trading well above its lows.
- 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 was weal (48.7), but above market expectations. Dealers who had shorted the USD into the data were forced to short-cover following the data.
- Asian bourses closed mostly lower today. The Shanghai Composite improved. Key European bourses ended weaker. U.S. stocks weakened broadly as well. U.S. bond prices are better. This is an active week for U.S. data and central bank decisions.
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."