Tuesday April 8, 2008 - 09:54:25 GMT
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FX Blog- Market Snapshot Europe Mid-Session 8 April 2008
GVI Market Snapshot- Europe Mid-Session
- Market Sentiment for the USD has turned more negative on Tuesday as officials send signals that no consensus has been reached that G7 is ready to take action in support of a stronger USD. February Pending Home Sales are due today. Dealers are also looking ahead to the ECB and BOE policy decisions on Thursday. The BOJ is expected to hold policy steady on Wednesday
- The USD is weaker from its Monday closes vs. the EUR. The GBP is weaker. The carry trade financing currencies, CHF and JPY, are firmer.
- The Shanghai Composite closed about steady while the Hong Kong exchange was weaker. The Nikkei fell. Weakness in Alcoa and AMD earnings were a weight on prices. Key European bourses are weaker. Eurozone bond prices have improved. U.S. equities are now seen opening lower later today. U.S. bond prices are better.
- The commodity currencies (AUD, CAD and NZD) are about steady vs. the USD. Gold and oil are mixed.
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