Monday October 29, 2007 - 16:14:40 GMT
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FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-session
- USD sentiment ahead of the Fed decision on Wednesday remains bearish. The EUR/USD is making new highs again.
- Traders are setting up for a Fed rate cut on Wednesday. Opinions mostly favor a -25bp easing, but a significant minority expects -50 bps. No change forecasts are the outliers.
- Rising crude prices remain a focus. The psychological $100 a barrel is in view.
- The commodity currencies are trading higher vs. the JPY. The CAD and AUD have made new highs for the move vs. the USD.
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