• US government shutdown and German coalition in play

    The threat of a US government shutdown has indeed come to pass but the market has been largely muted after a vote for stop-gap funding failed on Friday night. Much of the expectation had been factored in while the Euro found initial support after the SPD congress yesterday voted to continue German coalition talks. We've seen a few sellers again though this morning given that the final outcome is far from clear and we can't rule out another election in February.

    GBPUSD has been down to 1.3846 after capping at 1.3946 on Friday but now posted 1.3902 in early trading.EURGBP is still ranging while overall we've seen a few gains for the Pound which remains underpinned but with sellers still lurking.

    EURUSD gapped higher to 1.2275 on the Asian opening after the SPD vote but sellers now prevailing again.ECB dovish rhetoric has also put a softer tone to the Euro lately ahead of the ECB meeting/policy decision this Thursday..USDJPY has fallen again to test 110.50 with option contract interest still in play both sides of the range. USDCHF is higher though at 0.9610 with EURCHF also finding dip demand again.

    Aussie $, NZD and Canadian $ have all found a few sellers as commodities drift a little lower.

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

    No game for the mighty Shrimpers of Southend given the weather-related postponement but a great ODI series win for England's cricketers. Now, if we can just get back to learning to stay at the crease and bowl people out at Test level then all be good with the world.

    Have a good week one and all.

    Interbank Rates 07.50 GMT

    GBPUSD 1.3893

    EURUSD 1.2240

    EURGBP 0.8810

    GBPEUR 1.1350

    USDJPY 110.82

    AUDUSD 0.7995

    USDCAD 1.24272

    USDCHF 0.9610

    GBPAUD 1.7371

    GBPCAD 1.7322

    GBPCHF 1.3348

    GBPZAR 16.7175

    GBPHKD 10.7728

    EURHKD 9.4915

    GBPSGD 1.8342

    Read more...

    0 comments

  • US government shutdown threat still casting a shadow

    It's been a busy week and one that has seen the US$ largely on the back foot with the threat of a government shutdown not helping. There was a vote for stop-gap funding planned for last night but now postponed to this evening.

    GBPUSD has been up again amid the US$ selling and posted 1.3925 just shy of Wednesday's 1.3943 highs. EURGBP is still ranging as the Euro continues to find a few sellers with German coalition talks still in focus and indeed some doubt with the SPD voting on Sunday. Overall we've seen consolidation for the Pound which remains underpinned but with sellers still lurking. UK December retail sales the data risk today at 09.30 GMT

    EURUSD has been up to 1.2280 again but sellers still lurking on the SPD vote/ECB dovish rhetoric.USDJPY has fallen again to test 110.70 with option contract interest now adding to the retreat. USDCHF is also lower at 0.9557 with EURCHF finding sellers still.

    Aussie $, NZD and Canadian $ continue to find a few buyers and yesterday the SA Rand made a few gains as the Reserve Bank kept interest rates on hold at 6.75%.

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

    My beloved Southend Unitedv FC travel north tomorrow to Rochdale but without the services of manager Phil Brown and his assistant Graham Coughlan, a long-time SUFC servant, who were dismissed on Wednesday. Things have been wobbly for a while at the hallowed Hall and changes have been overdue both on and off the pitch. Regardless of the rights and wrongs of dismissing the management team a fresh approach can often help.Let's hope this is the start of better times for the currently not so mighty Shrimpers.

    Have a good week-end one and all.

    Interbank Rates 07.45 GMT

    GBPUSD 1.3920

    EURUSD 1.2273

    EURGBP 0.8818

    GBPEUR 1.1338

    USDJPY 110.73

    AUDUSD 0.8016

    USDCAD 1.2421

    USDCHF 0.9557

    GBPAUD 1.7363

    GBPCAD 1.7292

    GBPCHF 1.3304

    GBPZAR 16.9182

    GBPHKD 10.7922

    EURHKD 9.5185

    GBPSGD 1.8366

    Read more...

    0 comments

  • Perky Pound in lively markets

    After a volatile 24 hours we've seen the Pound come out top of the class with the general US$ trend still uncertain.

    GBPUSD has been up to 1.3949 after holding 1.3770 with EURGBP falling to 0.8803 (GBPEUR 1.1353) as the Euro continues to find a few sellers. Overall we've gains for the Pound which remains underpinned but with sellers still lurking.

    EURUSD has been up to 1.2280 but sellers were quick to jump in agaim and send the pair down to 1.2165 again. USDJPY has been up to test 111.50 with GBPJPY demand and option contract support helping the rally. USDCHF has been down steady by comparison again but with EURCHF finding sellers still.

    Aussie $, NZD and Canadian $ continue to find a few buyers and the BOC yesterday hiked Canadian rates by 0.25% as expected but with dovish tones/concerns over the NAFTA agreement which remains under threat.

    Great two-way action prevailing still so get your orders to take full advantage.

    Have a good day one and all.

    Interbank Rates 08.15 GMT

    GBPUSD 1.3840

    EURUSD 1.2212

    EURGBP 0.8823

    GBPEUR 1.1330

    USDJPY 111.20

    AUDUSD 0.7978

    USDCAD 1.2437

    GBPAUD 1.7347

    GBPCAD 1.7216

    GBPCHF 1.3334

    GBPZAR 16.9170

    GBPHKD 10.7302

    EURHKD 9.4706

    GBPSGD 1.8313

    Read more...

    0 comments

  • Jury still out

    Yesterday saw more USD selling only to find buyers returning in the dips once again.

    GBPUSD rallied to 1.3820 but with EURGBP ranging still between 0.8850-0.8910 (GBPEUR 1.1220-1.1300). Overall we've seen a few losses for the Pound which remains underpinned but still subject to bearish news.

    EURUSD has been up to take out the large sell interest 1.2300 that I mentioned yesterday but sellers were quick to jump back and send the pair back down to 1.2215 again. USDJPY fell further to test strong option contract-related buying interest at 110.00 only to bounce back to test 111.00 again. USDCHF has been down to 0.9580 but now 0.9640 with EURCHF still finding demand in the dips below 1.1800

    Aussie $, NZD and Canadian $ continue to find a few buyers as commodity prices remain underpinned and USD wobbles continue.

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

    Have a good day one and all.

    Interbank Rates 08.45 GMT

    GBPUSD 1.3785

    EURUSD 1.2233

    EURGBP 0.8874

    GBPEUR 1.1268

    USDJPY 110.78

    AUDUSD 0.7971

    USDCAD 1.2453

    GBPAUD 1.7290

    GBPCAD 1.7165

    GBPCHF 1.3280

    GBPZAR 16.9362

    GBPHKD 10.6860

    EURHKD 9.4930

    GBPSGD 1.8242

    Read more...

    0 comments

  • Consolidation mode again for the moment

    Yesterday saw further USD selling only to find buyers returning and we've been ranging since.

    GBPUSD rallied to 1.3820 but with EURGBP ranging still between 0.8850-0.8920 (GBPEUR 1.1210-1.1300). Overall we've seen a few gains for the Pound which

    EURUSD has been up to test 1.2300 but large selling interest there is capping rallies and this morning reports of German coalition talks breaking down saw the pair plummet to 1.2218. USDJPY has fallen further to 110.36 only to bounce back to test 111.00 . USDCHF has been down to test 0.9600 but losses tempered by EURCHF still finding demand in the dips with the SNB never too far away.

    Aussie $, NZD and Canadian $ continue to find a few buyers as commodity prices remain underpinned.

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

    Sad to hear of the passing of gospel singer Edwin Hawkins aged 74 and The Zombies' Dolores O'Riordan who has left us far too early at 46. Yesterday we also had the very sad news that footballer and instrumental campaigner for racial equality, Cyrille Regis, also passed away aged just 59.

    RIP all.

    Interbank Rates 08.15 GMT

    GBPUSD 1.3782

    EURUSD 1.2243

    EURGBP 0.8884

    GBPEUR 1.1255

    USDJPY 110.76

    AUDUSD 0.7962

    USDCAD 1.2428

    GBPAUD 1.7310

    GBPCAD 1.7134

    GBPCHF 1.3292

    GBPZAR 16.8547

    GBPHKD 10.6865

    EURHKD 9.4940

    GBPSGD 1.8225

    Read more...

    0 comments

social_rss_box_orange
official partner advert

Proud to be an Offical Partner of

emailsymbol

Call us today: +44 (0) 1732 700 383

Email : info@mspfx.co.uk

Bringing You The Best Value Currency Deals

Raising the Standard in Foreign Currency Exchange & International Money Transfers

Office hours : Monday to Friday - 8am till 6pm

The MSP Update

Photo crop (passport)

Welcome to my blog

Daily market commentary from
Mike Paterson

The MSP Update is an essential tool for personal and business clients who want to be kept informed on a daily basis. If you would like to discuss your requirements then give us a call and talk to one our experienced team..

Call today +44 (0) 1732 700 383

Find out how much you could save today

Don’t let the banks or your existing foreign currency broker cash in with poor exchange rates and extortionate fees, Whether you are making a small or large, one-off or regular money transfer , MSP FX will offer the best rates for your individual foreign currency requirements and assist you in transacting at the most opportune moment possible given your timeframe. MSP Foreign Exchange Services offers complete security of funds by executing trades only through preferred FSA and HMRC regulated providers. For more information call us today and find out how MSP FX can help you.

Euros-1024x683
003-paradise-island-x

You are viewing the text version of this site.

To view the full version please install the Adobe Flash Player and ensure your web browser has JavaScript enabled.

Need help? check the requirements page.


Get Flash Player