Tuesday April 29, 2008 - 10:11:20 GMT
Share This Story
Global-View - www.global-view.com
FX Blog- Market Snapshot Europe Mid-Session 29 April 2008
GVI Market Snapshot- Europe Mid-Session
- Market Sentiment for the USD has turned cautious into the FOMC. Yesterday, dealers marked the USD down heading into the expected -25bp Fed rate cut (to 2.00%) on Wednesday. Now those losses are being consolidated. Looking beyond the Fed, the April U.S. employment report on Friday is expected to be weak. Many overseas markets will be closed on Thursday for May Day and as a result, forex market participation after Wednesday should be sharply curtailed.
- The USD has rebounded vs. the EUR from late Monday. The GBP is also lower against the USD. The carry trade funding currencies, JPY and CHF, are weaker vs. the USD.
- The Shanghai Composite closed higher in quiet Asian trade. There was fresh speculation today of a one-off yuan revaluation vs. the USD. In Hong Kong, the Hang Seng index closed higher as well. The Japanese Nikkei was closed due to a local holiday. Key European bourses are currently mixed. Eurozone bond prices are higher. U.S. equities are seen opening lower later. U.S. bond prices are lower.
- The commodity currencies (AUD, CAD and NZD) are steady to lower vs. the USD. Gold and oil are easier.
- . Today sees the Case Shiller Index and the Conference Board Confidence Index.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."