Thursday October 18, 2007 - 15:55:05 GMT
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FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-session
- Gloom about U.S economy dominates and weighs on USD.
- 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.
- Oil remains firm on worries about a possible conflict between Turkey and Iraq.
- U.S. equities are weaker.
- Bond yields have continued to ease, especially the 2-yr. Odds for an October 31 Fed rate cut are now 70%.
- 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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