Friday April 4, 2008 - 09:59:34 GMT
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FX Blog- Market Snapshot Europe Mid-Session 4 April 2008
GVI Market Snapshot- Europe Mid-Session
- Market Sentiment for the USD has remains unstable as orders to sell EUR on its crosses this week have been frustrating those trying to establish USD shorts into the March employment report today.
- Street estimates are for a decline in jobs of about -50,000 in the month, after -63,000 in February. Weekly jobless claims on Thursday suggested that the employment situation in the U.S. may have started to deteriorate sharply. Its unclear if this development will show up in the data on Friday.
- The USD is down from its Thursday closes vs. the EUR and GBP. The carry trade financing currencies, CHF and JPY, are mixed once again.
- The Shanghai, Taiwan and Hong Kong exchanges were closed for holidays, The Nikkei ended lower. Key European bourses were higher. U.S. equities are seen opening about steady later. U.S. bond prices are about steady.
- The commodity currencies (AUD, CAD and NZD) are mixed vs. the USD. Gold and oil are higher.
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