Thursday October 18, 2007 - 10:06:37 GMT
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FX Market Snapshot and Trading Themes: Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- Markets are still digesting the change in heart of U.S. fixed income markets yesterday about the likelihood that the U.S. economic slowdown will be more prolonged than earlier imagined.
- Bond yields have continued to ease, especially the 2-yr. Odds for an October 31 Fed rate cut are now higher.
- The USD is broadly lower. Equities are seen opening mixed to lower.
- Forex markets are setting up for the G7 at the weekend. Odds are the anticipation will be a more significant influence than the event, as usual.
- Talk about convertibility of Shanghai A shares and Hang Seng equities has diven the Hang Seng higher and Shanghai down. Could be source of CNY revaluation rumors. Inflation remains a worry in China.
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