Friday May 23, 2008 - 09:37:31 GMT
Share This Story
Global-View - www.global-view.com
FX Blog- Market Snapshot Europe Mid-Session 23 May 2008
GVI Market Snapshot- Europe Mid-Session for May 23, 2008
How The Key Markets are Performing:
Forex and Commodities:
The tone of the USD is weakerâ€¦
- The USD has lost modest ground vs. the EUR from late Thursday. The GBP is about steady. As a result, the EUR/GBP cross about steady.
The carry trade financing currencies are strongerâ€¦
- The JPY and CHF, have gained vs. the USD. The CHF is unchanged vs. the JPY. As for the EUR against the funding currencies, the EUR/JPY and EUR/CHF are weaker.
The carry-trade driven currencies are mostly higherâ€¦
- The AUD and NZD are up vs. the USD. The CAD is steady. Oil is back higher along with gold.
Equities and Bonds:
- The Shanghai Composite closed lower, while the Hang Seng fell sharply. In Japan, the Japanese Nikkei closed higher. 10-yr JGB price were weaker to yield 1.695%, +4.5bps.
- Key European bourses are trading lower. Eurozone benchmark bond prices have gained.
- U.S. equities are seen opening lower later. U.S. bond prices are higher.
- The Euro-zone flash May Services PMI was weaker than expected (50.6 vs. 51.7 expected), while the manufacturing PMI was almost unchanged at 50.5, just above the 50 boom or bust level. UK 1Q07 GDP was unrevised. Dealers continue to look for any signs of weakness in the Eurozone economy.
- The price of oil continues to be a prime driver of EUR/USD sentiment. Markets are likely to wind down early ahead of long U.S. and U.K. weekends.. The U.S. releases Existing Homes sales for April at 14:00 GMT.
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."