• Euro wobbles again after German election result

    After UK PM May's Brexit speech on Friday gave the Pound a wobble it's been the turn of the Euro this morning after Chancellor Merkel gained a 4th term in office but with the worst performance for the Conservatives in 70 years. As/more importantly the far-right AFD gained seats in the Bundestag for first time since WWII

    GBPUSD had a dip again to 1.3450 after May's over-hyped speech in Florence sending EURGBP has up to 0.8853 GBPEUR down to 1.1292). This morning though we've seen a slide back to 0.8786 (GBPEUR up to 1.1382) on the German election fallout and that in turn has sent GBPUSD back up to 1.3571. Overall the Pound has also managed to consolidate a few gains.

    EURUSD posted lows of 1.1898 as Asia opened but then rallied back to 1.1953 before fresh sellers sent it back down to 1.1907 as I type while USDJPY has rallied to 112.53. USDCHF has also remained underpinned but with EURCHF selling into 1.1600 capping further gains.

    The Aussie $ has consolidated while the Canadian $ has lost a bit of ground as has the NZ $ after it's own general election result leaves a little bit of uncertainty.

    Fragile times still prevailing, and we will continue to see volatility so don't forget to place/revise your orders to maximize gains/minimize losses.

    On Saturday the Shrimpers of Southend United travelled north to take on Fleetwood Town and deservedly won, albeit against 10 men, to bring home 3 valuable points.

    Have a good week one and all.

    Interbank Rates 07.35 BST

    GBPUSD 1.3560

    EURUSD 1.1919

    EURGBP 0.8788

    GBPEUR 1.1375

    USDJPY 112.27

    AUDUSD 0.7961

    USDCAD 1.2328

    GBPAUD 1.7030

    GBPCAD 1.6714

    GBPCHF 1.3162

    GBPZAR 17.9825

    GBPHKD 10.5138

    EURHKD 9.2428

    GBPSGD 1.8263

    Read more...

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  • US Dollar sellers return

    It's turnaround time again as another volatile week comes to a close.

    GBPUSD found support around 1.3470 on the post-FOMC retreat and has since been back up to test 1.3600 while EURGBP has fallen to the 0.8780 area again (GBPEUR up to 1.1380). Overall the Pound has managed to consolidate a few gains as we wait on PM May's much-hyped Brexit speech in Florence later today.

    EURUSD posted lows of 1.1877 yesterday but has been back up to 1.1975 while USDJPY has made a rapid retreat to 111.65 from highs of 112.72 before finding fresh demand this morning. USDCHF has remained underpinned with EURCHF refusing to retreat too far and holding 1.1550.

    The Aussie $ fell further after being knocked lower on comments from the RBA and weaker metals prices but has now found some dip demand while the Canadian $ is also trying to recover some poise.

    Very fragile times prevailing, and we will continue to see volatility so don't forget to place/revise your orders to maximize gains/minimize losses.

    Tomorrow the Shrimpers of Southend United travel north to take on Fleetwood Town and they'll be hoping to bring at least one point back from the long trip. I hope your teams, in whichever sport you follow, do well.

    Have a good week-end one and all.

    Interbank Rates 07.15 BST

    GBPUSD 1.3587

    EURUSD 1.1954

    EURGBP 0.8805

    GBPEUR 1.1357

    USDJPY 111.96

    AUDUSD 0.7937

    USDCAD 1.2308

    GBPAUD 1.7117

    GBPCAD 1.6727

    GBPCHF 1.3163

    GBPZAR 18.0240

    GBPHKD 10.5340

    EURHKD 9.2754

    GBPSGD 1.8331

    Read more...

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  • US Dollar rallies as FOMC point to December rate hike

    Volatile markets again with attention on the US Federal Reserve FOMC interest rate decision last night. No rate hike as expected but Yellen & Co did offer some tapering talk with hints of putting up rates in December.

    GBPUSD has had another roller coaster time of it first moving up sharply to 1.3650 just ahead of the Fed but then falling in rapid time to 1.3474 on the actual announcement. EURGBP has fallen to 0.8795 though (GBPEUR up to 1.1367) and tempered some of the GBPUSD losses.Overall the Pound has managed to make a few gains as other currencies fall faster versus the greenback.

    EURUSD posted 1.2034 in that spike pre-FOMC but has been smacked lower since and traded down at 1.1862.USDJPY fell to 111.08 but then spiked to 112.40 and further to 112.72 this morning. USDCHF was sold down to 0.9590 but now trading 0.9730 as I type.

    The Aussie $ has also fallen to 0.7955 but seen good buying interest in the dip again this morning after being knocked lower on comments from the RBA while the Canadian $ got slapped versus its US cousin but performing better than some.

    Very fragile times prevailing, and we will continue to see volatility so don't forget to place/revise your orders to maximize gains/minimize losses.

    Have a good day one and all.

    Interbank Rates 08.15 BST

    GBPUSD 1.3487

    EURUSD 1.1884

    EURGBP 0.8876

    GBPEUR 1.1347

    USDJPY 112.62

    AUDUSD 0.7955

    USDCAD 1.2345

    GBPAUD 1.6948

    GBPCAD 1.6651

    GBPCHF 1.3123

    GBPZAR 18.0308

    GBPHKD 10.4565

    EURHKD 9.2152

    GBPSGD 1.8282

    Read more...

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  • Markets prepare for the US Fed rate decision

    Lively markets still with attention turning to the US Federal Reserve interest rate decision arriving today at 19.00 BST. A rate hike is unlikely but Yellen & Co may offer some tapering talk.

    GBPUSD has had a roller coaster 24 hours moving back down from 1.3552 to 1.3469 then back up to 1.3537 with EURGBP trading 0.8850-0.8900 (GBPUSD 1.1235-1.1300). Prime mover on the Pound was once again GBPJPY with hedge funds turning some chunky positions.Overall though the Pound has given up a few more of its recent gains.

    EURUSD back above 1.2000 and remains underpinned while USDJPY has been also supported but contained amid the US Fed uncertainty.USDCHF gains have been strong with Euro demand helping EURCHF up to 1.1529.

    The Aussie $ has seen good buying interest this morning but sellers remain poised and the Canadian $ also continues to see goo two-way business.

    Fragile times prevailing, and we will continue to see volatility with the US Fed potentially a real mover so don't forget to place/revise your orders to maximize gains/minimize losses.

    Have a good day one and all.

    Interbank Rates 08.20 BST

    GBPUSD 1.3525

    EURUSD 1.2004

    EURGBP 0.8876

    GBPEUR 1.1267

    USDJPY 111.46

    AUDUSD 0.8036

    USDCAD 1.2278

    GBPAUD 1.6827

    GBPCAD 1.6607

    GBPCHF 1.3007

    GBPZAR 17.9834

    GBPHKD 10.4859

    EURHKD 9.3067

    GBPSGD 1.8i87

    Read more...

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  • Euro gains notable as Pound retreats

    Plenty going on still with the US Federal Reserve interest rate decision in focus tomorrow but it's the Euro that's currently taking the "best of a bad bunch" title

    GBPUSD retreated to 1.3465 yesterday helped by some strong EURGBP demand (GBPEUR selling) along with a few less than bullish comments by BOE governor Carney about the UK uncertainties post-Brexit. EURGBP held onto support around 0.8774 (GBPUSD 1.1307) and has since rallied this morning to 0.8878 (GBPEUR down to 1.1263) but GBPUSD has been helped back up to 1.3550 by strong GBPJPY demand as Yen weakness continues. Overall though the Pound has given up a few of its recent gains.

    It's the Euro that's been the star turn so far in a busy start to the day with EURUSD back above 1.2000 briefly as EURJPY posts highs of 134.15 not seen since December 2015.USDJPY has been up to 111.89 while USDCHF gains have been tempered above 0.9620 but underpinned by EURCHF advancing to 1.1529.

    The Aussie and Canadian $ are both ranging still but underpinned overall.

    Fragile times prevailing, and we will continue to see volatility so don't forget to place/revise your orders to maximize gains/minimize losses.

    Have a good day one and all.

    Interbank Rates 08.10 BST

    GBPUSD 1.3531

    EURUSD 1.1985

    EURGBP 0.8856

    GBPEUR 1.1290

    USDJPY 111.73

    AUDUSD 0.7980

    USDCAD 1.2285

    GBPAUD 1.6953

    GBPCAD 1.6624

    GBPCHF 1.2995

    GBPZAR 18.0044

    GBPHKD 10.4890

    EURHKD 9.2947

    GBPSGD 1.8245

    Read more...

    0 comments

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