Friday April 25, 2008 - 09:52:36 GMT
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FX Blog- Market Snapshot Europe Mid-Session 25 April 2008
GVI Market Snapshot- Europe Mid-Session
- Market Sentiment for the USD has remained upbeat heading into trade Friday in N.Y. Support continues to come from a growing market perception that U.S. interest rates are in sight of their cyclical lows. U.K. GDP was weaker than expected.
- The USD is trading higher vs. the EUR from late Thursday. The GBP is up against the EUR and USD. The carry trade funding currencies, JPY and CHF, are weaker vs. the USD. 10-yr JGB prices fell on the increase in the latest inflation data and on a sharp increase in the Nikkei on the recently weaker JPY.
- The Shanghai Composite closed down modestly.. In Hong Kong, the Hang Seng index closed lower as well. As noted, Japanese Nikkei closed up strongly. Key European bourses are mostly better at this hour. Eurozone bond prices are mixed. At this hour, U.S. equities are seen opening higher later. U.S. bond prices are weaker.
- The commodity currencies (AUD, CAD and NZD) are weaker vs. the USD. Australian markets were closed for the Anzac holiday. Gold and oil are trading mixed to weaker.
- Friday is a light session for U.S. with only the University of Michigan sentiment survey slated.
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