Wednesday October 31, 2007 - 10:44:50 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- European Mid-session
- USD has turned weaker heading into the FOMC decision.
- Traders setting up for a -25 bp (94% odds) Fed rate cut. on Wednesday. A -50bp cut is now seen as unlikely.
- The commodity currencies are firmer vs. the JPY.
- In addidion to the FED decision, the markets will see a heavy U.S. release calendar today.
- Equities seen opening higher.
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