Wednesday May 28, 2008 - 09:49:14 GMT
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FX Blog- Market Snapshot Europe Mid-Session 28 May 2008
GVI Market Snapshot- Europe Mid-Session for May 28, 2008
Profile of Key Markets:
- Daily change in U.S. vs. investment currencies:
EUR/USD- steady; GBP/USD- higher.
USD vs. carry trade financing currencies:
USD/JPY- higher; USD/CHF- steady; CHF/JPY- firmer
USD/CAD- steady; AUD/USD- steady; NZD/USD- weaker
Crude Oil (WTI)- lower; Gold- weaker.
- EUR crosses:
EUR/JPY- stronger EUR/CHF- steady; EUR/GBP- steady
- Equities and Bonds:
Shanghai Composite- closed higher; Hang Seng- closed lower: Nikkei- lower
DAX- higher FTSE- steady SMI- higher
U.S. equities are now seen opening barely changed.
- Bond Highlights:
2-YR- E-Z 4.25%. +4bp; U.S. 2.51% +0bp. JGB 0.88%, +3
10-YR- E-Z 4.34% +3bp; U.S. 3.94%, +2bp JGB 1.77% +1
- The tone of the USD is neutral at this hour, although falling crude oil prices have lifted it from its lows earlier. In this case, it is pretty clear that the price of oil has been in a leadership role. The question now is whether sovereign players will be back in today looking to buy EUR/USD on weakness.
- Key releases today include Canadian Current Account data, and U.S. Durable Goods orders.
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