Thursday May 22, 2008 - 09:48:11 GMT
Share This Story
Global-View - www.global-view.com
FX Blog- Market Snapshot Europe Mid-Session 22 May 2008
GVI Market Snapshot- Europe Mid-Session for May 22, 2008
How The Key Markets are Performing:
Forex and Commodities:
- The USD has recovered modestly vs. the EUR from late Wednesday. On the other hand, the GBP was rebounded. As a result, the EUR/GBP cross is lower.
- The carry trade financing currencies, JPY and CHF, have followed the EUR weaker vs. the USD. The CHF is slightly better vs. the JPY. As for the EUR crosses against the carry trade funding currencies, EUR/JPY is steady. The EUR/CHF is unchanged.
- The carry-trade driven currencies (AUD, CAD and NZD) are broadly mixed vs. the USD. Oil has continued to press higher. Gold is lower.
Equities and Bonds:
- The Shanghai Composite closed lower, while the Hang Seng fell. In Japan, the Japanese Nikkei closed higher. 10-yr JGBs ended at 1.650%, +3.0bps.
- Key European bourses are trading mixed. Eurozone benchmark bond prices are about steady.
- U.S. equities are seen opening higher later. U.S. bond prices are weaker.
- Weak new industrial orders for the Eurozone has been a weight on the EUR today. Negative USD sentiment after the Fed Minutes yesterday has mostly faded, with the central bank revising down its growth forecast and fretting about mounting inflationary pressures.
- Dealers will be looking for indications again that Asian central banks might be diversifying USD reserves into EUR. These actions and the latest surge in the oil price have stopped the recent USD rebound in its tracks.
- Thursday will see weekly U.S. jobless claims. Looking ahead, next Monday will be major holidays in the U.S. and London.
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."