• US Dollar a bit of a turkey as markets head off for Thanksgiving

    A combination of dovish US Fed Minutes from the last interest rate and meeting and trading desks squaring a few positions has seen the greenback take a trip lower.

    GBPUSD held 1.3200 yesterday after the lower OBR UK GDP forecasts caused a sell-off and we've now been up to 1.3337 so far with EURGBP trading 0.8865-85 (GBPEUR 1.1255-1.1275). Overall the Pound is still holding up against an average bunch of competitors.

    EURUSD has been up to 1.1838 while USDJPY has been down to 111.07 and USDCHF down to 0.9808 again with EURCHF dipping to 1.1590

    Aussie $ has recovered some poise with AUDUSD rising up through 0.7600 for the first time in a while and the NZ$ and Canadian$ also making the most of the US Dollar's demise.

    Good two-way action prevailing still though so get your orders in to take full advantage of the moves.

    The Ashes are underway and a not too shabby start from England's batsmen after losing Cook early. TMS on as I type. Makes getting up at silly o'clock slightly more bearable.

    Have a good day one and all.

    Interbank Rates 06.20 GMT

    GBPUSD 1.3324

    EURUSD 1.1827

    EURGBP 0.8876

    GBPEUR 1.1265

    USDJPY 111.29

    AUDUSD 0.7615

    USDCAD 1.2705

    GBPAUD 1.7496

    GBPCAD 1.6928

    GBPCHF 1.3080

    GBPZAR 18.4603

    GBPHKD 10.3293

    EURHKD 9.1678

    GBPSGD 1.7956

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  • Pound in focus as UK Budget looms

    It's not usually a prime mover in FX terms but today's Budget has captured the attention more than most amid the UK's current uncertainty over Brexit and the government's in-fighting. The OBR forecasts on GDP growth et al will also be keenly awaited.

    Dovish tones from BOE MPC members yesterday sent GBPUSD down to test 1.3200 but we've been back up to 1.3272 with EURGBP trading 0.8835-85 (GBPEUR 1.1255-1.1318).Overall the Pound is still holding up ok against an average bunch of competitors.

    EURUSD dipped to 1.1715 but since back to 1.1761 with all eyes on German coalition talks still. USDJPY has been back down to test 112.00 with Japanese equities dipping into the close again just now. USDCHF has capped around 0.9940 again with EURCHF falling back to 1.1635

    Aussie $ is on the back foot still with AUDUSD failing to break back up above 0.7600 but the NZ$ and Canadian$ are finding a few buyers.

    Good two-way action prevailing still so get your orders in to take full advantage of the moves.

    A midweek trip to Milton Keynes last for the Shrimpers of Southend United and your writer. Another missed penalty but a 1-1 draw. More a case of 2 points dropped though rather than 1 earned.

    Have a good day one and all.

    Interbank Rates 06.50 GMT

    GBPUSD 1.3258

    EURUSD 1.1757

    EURGBP 0.8867

    GBPEUR 1.1276

    USDJPY 112.14

    AUDUSD 0.7570

    USDCAD 1.2763

    GBPAUD 1.7513

    GBPCAD 1.6923

    GBPCHF 1.3123

    GBPZAR 18.5228

    GBPHKD 10.2789

    EURHKD 9.1157

    GBPSGD 1.7923

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  • Euro recovers some poise but jury still out

    As the German coalition talks continue the jury remains out on the end-result with fresh elections not being ruled out despite President Steinmeier calling for more inclusive talks first.

    EURUSD rallied back above 1.1800 on reports that the FDP would in fact back a Merkel-led minority government but Euro sellers were quick to jump back in and we've seen 1.1730 again. EURGBP rallied to 0.8905 (GBPEUR down to 1.1230) but has since fallen back to 0.8858 (1.1290). The Euro story is the same across all pairs and we wait now on further news from Germany.

    GBPUSD has been up to 1.3280 but back down to 1.3230 as EURGBP pings up and down and we wait on on the UK Budget tomorrow amid the on-going Brexit posturing from both sides.

    USDJPY has been back up to 112.70 after holding 112.00 yesterday but has fallen back with Japanese equities dipping into the close just now.USDCHF has been been up to 0.9940 but rallies tempered by EURCHF falling but finding good support in the dips still. On-going SNB "smoothing" (intervention to weaken the Franc) can not be ruled out.

    Aussie $ is on the back foot still as are the NZ$ and Canadian$ with commodity-linked currencies remaining under pressure.

    Good two-way action prevailing so get your orders in to take full advantage of the moves.

    Have a good day one and all.

    Interbank Rates 06.12 GMT

    GBPUSD 1.3250

    EURUSD 1.1747

    EURGBP 0.8865

    GBPEUR 1.1278

    USDJPY 112.48

    AUDUSD 0.7544

    USDCAD 1.2805

    GBPAUD 1.7563

    GBPCAD 1.6967

    GBPCHF 1.3145

    GBPZAR 18.6227

    GBPHKD 10.2727

    EURHKD 9.1192

    GBPSGD 1.7963

    Read more...

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  • Euro lower as German coalition talks break down

    Not a good week-end for Germany as coalition talks, some two-months after the elections, have collapsed and with Merkel now having to see the President today. I highlighted the risk in my post on Friday and we've seen the Euro tumble in early Asia trading. Fresh elections can not be ruled out but Merkel could also try and govern with a minority two-party coalition given the risks of her being ousted completely in a new round of votes.

    EURUSD has fallen to 1.1720 from 1.1810 while EURGBP has been down to 0.8874 (GBPEUR up to 1.1269). The softer tones echo around all Euro pairs bnut there is a little demand creeping back in as I type

    GBPUSD has been to test 1.3180 again but currently bouncing back up to 1.3225 and overall the Pound starts the week in perky mood as we wait on the UK Budget on Wednesday as well as the usual Brexit posturing from both sides.

    USDJPY has fallen again to 111.89 while USDCHF has been pressured lower by EURCHF falling to 1.1590 but finding good support in those dips. SNB "smoothing" can not be ruled out again.

    Aussie $ is on the back foot still as are the NZ$ and Canadian$ with commodity-linked currencies generally under pressure.

    Good two-way action prevailing so get your orders in to take full advantage of the moves.

    The not so mighty Shrimpers of Southend United FC fell well short at Portsmouth and missed a penalty to lose 1-0 but England beat Australia at Twickenham and the Scots ran the All Blacks close in a thrilling encounter. Just a shame I was driving back from Pompey at the time. Hey ho, worse going on out there eh?

    Have a good week one and all.

    Interbank Rates 06.45 GMT

    GBPUSD 1.3211

    EURUSD 1.1736

    EURGBP 0.8883

    GBPEUR 1.1256

    USDJPY 112.01

    AUDUSD 0.7561

    USDCAD 1.2785

    GBPAUD 1.7468

    GBPCAD 1.68488

    GBPCHF 1.3072

    GBPZAR 18.5431

    GBPHKD 10.2425

    EURHKD 9.1003

    GBPSGD 1.7922

    Read more...

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  • US Dollar ending the week on a soggy note

    As the market still tries to second-guess the US Fed on December rate hike and the consequences of Trump's tax reform ambitions we've seen the greenback come under a little pressure as this busy week draws to a close.

    GBPUSD has been a notable beneficiary with highs posted of 1.3245 after stop-loss buy orders were triggered above 1.3210 which had held in recent attempts. EURGBP has dipped further to 0.8912 (GBPEUR up to 1.1220) and overall the Pound is finishing the week on a firmer footing.

    EURUSD has struggled to take full advantage and has capped at 1.1822 with a little Euro weakness generally noted as Germany fails to meet yesterday's deadline to form a government, almost 2 months after recent elections. Coalition talks continue into the week-end with Merkel perhaps having to negotiate the deal of her long career.

    USDJPY has fallen again to 112.39 while USDCHF has tested lower at 0.9900 again but underpinned there as is EURCHF at 1.1680. SNB "smoothing" can not be ruled out.

    Aussie $ is on the back foot still as are the NZ$ and Canadian$ with commodity-linked currencies generally under pressure.

    Good two-way action prevailing so get your orders in to take full advantage of the moves.

    Tomorrow the mighty Shrimpers of Southend United FC are once again on the road at Portsmouth. A large following will be there to cheer the boys onto hopefully better things than we've seen recently. The first Ashes cricket Test on Thursday looms large. Bring it on!

    Have a good week-end one and all.

    Interbank Rates 06.35 GMT

    GBPUSD 1.3233

    EURUSD 1.1810

    EURGBP 0.8923

    GBPEUR 1.1205

    USDJPY 112.55

    AUDUSD 0.7571

    USDCAD 1.2730

    GBPAUD 1.7476

    GBPCAD 1.6847

    GBPCHF 1.3128

    GBPZAR 18.7161

    GBPHKD 10.2595

    EURHKD 9.1562

    GBPSGD 1.7926

    Read more...

    0 comments

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