Thursday November 20, 2008 - 10:41:32 GMT
Share This Story
Global-View - www.global-view.com
FX Blog- GVI Forex Analysis: N.Y. Open for November 20, 2008
Pre-GVI Forex Analysis: N.Y. Open for November 20, 2008
New York Open
- Fear continues to rule in the financial markets. The yield on the two-year note has fallen to a new low of 1.07%, -2bps from its depressed levels on Wednesday. Risk aversion was put back on the table Wednesday after it became clear that the plea of the â€śbig threeâ€ť automakers for government support was floundering. U.S. equity markets fell sharply.
- Far East bouses fell broadly today. European bourses are lower also. The early call for the open of U.S. shares is for lower. Weekly U.S. jobless claims on the open will be closely watched as always.
- Trading off equity indices remains the only game in town. Surprisingly little seems to have come out of the lame duck session of Congress, given the critical state of the financial markets.
- The 2-yr U.S. minus E-Z spread is -107 bps +3 bps. U.S. bond prices are better. E-Z bond prices have improved as well.
- The USD is slightly higher vs. the EUR and CHF from late Wednesday. The JPY is firmer and the GBP is down sharply lower. The volatile commodity currencies (AUD, CAD and NZD) are now weaker on the day. Oil is weak and now approaching the $50 line. Gold is higher (flight to safety?). See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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."