Monday March 10, 2008 - 12:17:10 GMT
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FX Blog- Market Snapshot Europe Mid-Session 10 March 2008
GVI Market Snapshot- Europe Mid-Session
- The USD is trading lower vs. the EUR and GBP from late Friday levels. The carry trade financing currencies, CHF and JPY, are stronger as well.
- The USD remains vulnerable heading into the new week. The USD unit surprisingly recovered Friday following a weaker than expected February jobs report. Dealers said that the unit did not decline on the data because the markets had already been positioned for a poor report.
- Commodity currencies (AUD, CAD and NZD) are mixed vs. the USD. Gold is holding about steady but the psychological $1,000 mark is still in sight. Crude Oil (WTI) is a touch easier but remains at lofty levels.
- Asian bourses closed mostly lower today on concern about the weak U.S. economy. Key European bourses are weaker. The early call for U.S. stocks is for lower at this hour. U.S. bond prices are higher.
- The U.S. economic calendar is relatively light today. Clocks in North America have sprung forward over the weekend. Europe will make its summer time adjustment in about three weeks.
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