Tuesday October 30, 2007 - 16:13:06 GMT
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FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-Session
- Traders setting up for a -25 bp (94% odds) Fed rate cut on Wednesday. A WSJ article by Greg Ip casts some doubt on the certainty of a rate cut at all. He said that a -50bp cut is seen as improbable.
- USD sentiment turned negative following a much weaker than expected Conference Board Consumer Confidence index.
- The commodity currencies are steady to lower vs. the JPY.
- Equities are weaker. The JPY is not trading closely with equities today.
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