Tuesday May 27, 2008 - 10:04:44 GMT
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FX Blog- Market Snapshot Europe Mid-Session 27 May 2008
GVI Market Snapshot- Europe Mid-Session for May 27, 2008
How The Key Markets are Performing:
Daily change in U.S. vs. investment currencies:
- EUR/USD- steady; GBP/USD- weaker
USD vs. carry trade funding currencies
- USD/JPY- higher; USD/CHF- steady; CHF/JPY- firmer
- USD/CAD- firmer; AUD/USD- steady; NZD/USD- firmer
- Crude Oil (WTI)- steady; Gold- firmer
- EUR/JPY- stronger EUR/CHF- steady; EUR/GBP- stronger
Equities and Bonds:
- Shanghai Composite- closed unchanged; Hang Seng- closed higher: Nikkei- higher
- 10-yr JGB 1.760%, 0 bp
- DAX- down FTSE- up SMI- up
- U.S. equities are seen opening slightly lower later.
Eurozone and U.S. Bonds
- 2-YR- EZ 4.46%. 0bp; U.S. 2.47% +2bp
- 10-yr- EZ 4.29% 0bp; U.S. 3.87%, +2bp
- Trading is off to a relatively cautious start heading into N.Y. EUR/USD has been in a wide range earlier today. There is talk that Asian banks ran the pair higher and then dumped it later. No major economic data have been released today. Swiss trade figures were much better than expected.
- No major trading pattern is jumping out from the various relationships above. Odds are that the price of oil could play dominant role this week. We are holding to our view that all the â€śgoodâ€ť news is about priced in.
- A number of key U.S. releases: Case-Shiller, CB Sentiment Survey and New Homes Sales are slated for 14:00 GMT.
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