Friday November 28, 2008 - 10:32:32 GMT
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FX Blog- GVI Forex Analysis Thread: November 28, 2008
GVI Forex Analysis Thread: November 28, 2008
Pre-New York Open
- The USD is a touch firmer early Friday. This should be a holiday-restrained session today in the U.S. with the Thanksgiving holiday resulting in skeletal staffing. The flash Euro-zone HICP estimate was a sharply weaker 2.1% yr/yr. The unemployment rate was a higher than forecast 7.7%.
- The terrorist episode in Mumbai is still in the process of being mopped up, but seems not to be having much of an impact outsideof India.
- Today is a half-day session in N.Y. and usually about the slowest trading day of the year. One caveat today, this session is monthend so a lot of transactions will have to be settled early in the session.
- The Nikkei gained in the Far East session. European bourses are modestly lower. The call for the open of U.S. shares is for modestly easier.
- The 2-yr U.S. minus E-Z spread is -102 bps +6 bps. U.S. bond prices are higher. E-Z bond prices have advanced as well.
- The USD is mixed to higher vs. the EUR, CHF and GBP from late Thursday. The JPY has advanced. The volatile commodity currencies (AUD, CAD and NZD) are trading mixed. Oil is softer, but is holding the critical $50 line. Gold is better. See the GVI calendar for an updated schedule of data releases in the two weeks ahead
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