Tuesday March 11, 2008 - 10:08:53 GMT
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FX Blog- Market Snapshot Europe Mid-Session 11 March 2008
GVI Market Snapshot- Europe Mid-Session
- The USD is opning lower vs. the EUR and GBP from late Monday levels. The carry trade financing currencies, CHF and JPY, are mixed.
- Risk aversion remains the recurring theme. Nevertheless, the USD remains vulnerable heading into trade data this morning in the U.S. day. The political problems of the New York State Governor have had no market impact, even though the N.Y. state administration is very much involved with the fallout of some of the sub-prime meltdown issues.
- Commodity currencies (AUD, CAD and NZD) were stronger vs. the USD. Gold is firmer. The psychological $1,000 mark remains in sight. Crude Oil (WTI) prices are steady.
- Asian bourses closed mostly better today after the JPY stabilized. Key European bourses are mixed. U.S. stocks are currently seen opening higher. U.S. bond prices are lower.
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