Thursday March 27, 2008 - 10:03:10 GMT
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FX Blog- Market Snapshot Europe Mid-Session 27 March 2008
GVI Market Snapshot- Europe Mid-Session
- Market Sentiment looks to have turned cautious on Thursday following the recent return of USD weakness in the wake of a number of weak U.S. economic reports. Today will see the release of final U.S. 4Q07 GDP and weekly initial jobless claims.
- The USD is trading higher vs. the EUR and is a bit softer vs. the GBP from late Wednesday levels. The carry trade financing currencies, CHF and JPY, are weaker as well, although at this reading there does not look to be a run back into the carry trades. Deleveraging remains an underlying theme.
- Asian bourses closed mixed to lower. The Shanghai Composite fell sharply again on Thursday as that stock price bubble continues to deflate. Key European bourses are better. U.S. equities are currently seen opening higher later. U.S. bond prices are weaker.
- The commodity currencies (AUD, CAD and NZD) are weaker vs. the USD. Gold and oil are softer.
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