Wednesday June 18, 2008 - 09:42:38 GMT
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FX Blog- Market Snapshot Europe Mid-Session 18 June 2008
GVI Market Snapshot- Europe Mid-Session for June 18, 2008
Profile of Key Markets:
- The USD traded has improved modestly vs. the EUR from late Tuesday. No major data have been released since the N.Y. The EUR/USD 1.5500 level remains neutrality and a price magnet.
- The GBP is lower vs. the USD, while EUR/GBP is up slightly. The latest BOE policy minutes indicated that the June rate vote was 8- in favor of holding rates steady. The dove Blanchflower voted for a cut.
Click on chart for two year history.
- The USD/JPY is firmer. The EUR/JPY has gained. CHF/JPY is steady. The CHF is easier vs. the USD ahead of the SNB quarterly policy decision on Thursday. The EUR/CHF is up. Some modest JPY carry trades might be underway.
Click on chart for two year history
- The commodity currencies are mixed to lower. Oil is softer on the day. Gold is up a bit.
- Asian equities closed higher. There was speculation in China of an official oil price hike. European bourses are currently down. U.S. equities are seen opening steady at this hour.
- JGB prices closed higher, while the prices on E-Z bonds have weakened. U.S. bond prices are lower. The E-Z minus U.S. 2-yr note spread was last -171bps, +1.
- See the GVI Calendar for the full schedule of key data. No key U.S. data, other than weekly energy inventories are due.
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