Thursday October 18, 2007 - 20:33:21 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- U.S. equities closed steady.
- Bond yields have continued to ease, especially the 2-yr. Odds for an October 31 Fed rate cut are now 70%.
- 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.
- 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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