Tuesday November 6, 2007 - 11:41:31 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- We will be waiting to see if the malaise in equity markets on Monday carries forward into the latter part of the week.
- the markets are looking ahead to the ECB policy signal for December on Thursday. November rates will most likely be held steady. The bias is for a future rate hikes when conditions warrant.
- Fed Chair Bernanke testifies on Thursday. Therre is little doubt that he will signal that it is not the goal of Fed policy to bail out bad decisions by institutions, however he will support the broader economy.
- The early call for equities is for higher. 13,500 is a key closing support level in the DJIA.
- Commondity currencies, gold and oil are back bid.
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