Wednesday March 26, 2008 - 10:02:25 GMT
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FX Blog- Market Snapshot Europe Mid-Session 26 March 2008
GVI Market Snapshot- Europe Mid-Session
- The USD is trading down sharply vs. the EUR and GBP from late Tuesday levels and from the European open today.
- Much stronger than expected German IFO data and hawkish testimony by ECB President Trichet to the European Parliament have seen the EUR/USD lead the USD lower. The carry trade financing currencies, CHF and JPY, are stronger vs. the USD.
- Asian bourses closed higher again. The Shanghai Composite continues to languish.. Key European bourses are modestly weaker. The early call for the open of U.S. equities later is for lower. U.S. bond prices are higher.
- The commodity currencies (AUD and NZD) are lower vs. the USD. The CAD is steady. Gold has improved and oil is about steady. Data highlights from the U.S. on Wednesday include U.S. Durable Goods and New Homes sales.
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