Thursday May 29, 2008 - 20:10:38 GMT
Share This Story
Global-View - www.global-view.com
FX Blog- Market Snapshot Far East Open for 30 May 2008
GVI Market Snapshot- Far East Open for May 30, 2008
Profile of Key Markets:
- Daily change in U.S. vs. investment currencies:
EUR&GBP-. USD up. EUR/GBP is weaker.
USD vs. carry trade financing currencies:
JPY&CHF- USD up; CHF/JPY- is steady Carry-trades vs. USD:
CAD, AUD & NZD: steady to weaker.
Crude Oil (WTI) & Gold are sharply weaker.
- EUR crosses:
EUR vs. JPY & CHF mixed
- Equities and Bonds:
Nikkei- ends up sharply; Shanghai Composite- closed lower; Hang Seng- closed lower:
DAX- higher; FTSE- higher; SMI- higher
U.S. equities are closing higher.
- 2-yr Bond Highlights:
E-Z 4.35%. +12bp; U.S. 2.69% +5bp. JGB 0.95%, +8
- The tone of the USD is winding up the N.Y. session better. An, as expected upward revision in U.S. 1Q08 GDP was USD supportive Also, weaker than expected German employment data were a weight on the EUR/USD. Recently, the bias of much of the German and E-Z data has been to the soft side of expectations. Comments by Dallas Fed President and hawk Fisher gave the USD further support, as he indicated that recent U.S. inflation data could force a Fed rate hike.
- Large movements in the critical 2-yr bond yields provided support for the U.S. currency. The Fisher comments have been a weight on bond prices.
- The one-sided (downside only) crude to EUR/USD correlation worked. The JPY to equity relationship was tight in both directions.
- Sovereign players could always reappear at any time looking to buy EUR/USD on weakness.
- The last day of the month is always the heaviest for data releases. See GVI Calendar for details.
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."