Tuesday November 13, 2007 - 11:18:35 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- U.S. and Canadian markets will be back in full swing following holiday closures on Monday. U.S. equities were open.
- Monday saw a major unwind of JPY carry trades (repatiations?). Markets now are in a risk reduction mind-set. Tuesday has seen some recoveries from Monday's sharp sell-offs.
- Position traders have been hurt and many now are likely to resort to hit-and-run trading tactics.
- The commodity currencies have rebounded after having been slammed on the carry trade unwind.
- The early call for U.S. equities is for a higher open.
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