Friday March 14, 2008 - 10:47:06 GMT
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FX Blog- Market Snapshot Europe Mid-Session 14 March 2008
GVI Market Snapshot- Europe Mid-Session
- The USD is heading into North American trade stronger vs. the EUR and GBP from late Thursday levels. The carry trade financing currencies, CHF and JPY, are modestly stronger.
- Dealers suggest that the USD has stabilized as a precautionary play heading into the weekend. Sentiment about the unit remains broadly negative. They say also that the tone of all the markets switched at about mid-session in N.Y. Thursday after S&P indicated that it feels that the end of mortgage write-downs is in sight. Supportive USD comments by Secretary Paulson late Thursday had no impact on the markets.
- The commodity currencies (AUD, CAD and NZD) are mixed vs. the USD. Gold is up and oil steady.
- Asian bourses closed mixed to lower. Key European bourses are up modestly. U.S. stocks are currently seen opening modestly higher late. U.S. bond prices are higher. Today sees the release of U.S. CPI and University of Michigan Sentiment data. .
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