Wednesday November 7, 2007 - 16:38:44 GMT
Share This Story
Global-View - www.global-view.com
FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-Session
- After taking a big hit earlier, the USD is on the back foot again today and there are growing worries about the pace of its decline. Verbal forex intervention may not be far away.
- Some suggest that the BIS could have been in offering EUR/USD at the 1.4700 level after trading quite a bit higher later.
- A catalyst for this latest move was a comment by a Chinese advisor who suggested that Chinese reserves should be further diversified out of the USD.
- Pro-dollar comments by Secretary Paulson were seen as ineffective.
- RBA got the ball rolling with a +25bps hike in rates to 6.75% and hints that more hikes are in the works..
- Commodity currencies, gold and oil are bid. $100 crude possible after energy inventories today.
- Equities are lower.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."