• Greenback being grabbed after NFP wobble

    Awful headline jobs data from the US on Friday saw a sharp spike lower in the US Dollar but closer scrutiny gave us a less dismal picture and we've seen some level of recovery since helped over the week-end by a bit of risk-on sentiment as US-Mexico trade talks took a better turn amongst other more positive news.

    GBPUSD had a look above 1.2760 but held again and we've since tested good support at 1.2700 this morning so far. EURGBP has tested 0.8900 again and failed again as EURUSD slides from 1.1336 to post 1.1290 this morning. Good two-way business to be had but 0.8850 still a decent line in the sand (GBPEUR sellers 1.1300).

    GBPJPY remains range-bound but underpinned again with USDJPY also holding 108.00 and rallying on the USD recovery and USD demand.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy and buy back in the dips amid all the uncertainty/indecision including Brexit. Data risk today at 08.30 GMT with latest production and trade figures due but the focus still remains on Brexit and the debacle that is developing to replace May as Tory leader and therefore PM. She has now stepped down at party leader but remains in temporary residence at No. 10 as PM until her successor has been found, voted for by just 100,000 party faithful.

    EURUSD has large option expiry interest today at 1.1300 which may help contain range after the post-NFP fun and games. USDJPY had a couple of looks at 108.00 but once again we saw a hold to see a good rally now to 108.67 amid talk of further BOJ easing, USD demand and better risk sentiment. USDCHF had some fun and games with EURUSD also in a whirl post-NFP but EURCHF also in tight-range mode but supported by the usual dip demand with the SNB ever casting their shadow.

    AUDUSD is still making its mind up and tightly bound but proving resilient still albeit capping once again above 0.7000 helped by softer Gold price. USDCAD has been in retreat still amid generally firmer oil prices and decent CAD/JPY demand..

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    Awful news over the week-end that former Southend United and Spurs player Justin Edinburgh has left us at just 49 years of age having suffered a cardiac arrest last week. A top professional and all round good man who has recently overseen the return of Leyton Orient to the Football League. Since condolences to family and friends. RIP Justin.

    Make the most of your day/week out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.30 BST

    GBPUSD 1.2706

    EURUSD 1.1297

    EURGBP 0.8890

    GBPEUR 1.1246

    GBPAUD 1.8247

    GBPCAD 1.6867

    USDJPY 108.63

    USDZAR 14.8579

    EURJPY 122.75

    EURCHF 1.1194

    EURHKD 8.7595

    GBPJPY 138.04

    GBPZAR 18.8796

    GBPHKD 9.8510

    AUDUSD 0.6963

    USDCAD 1.3275

    USDCHF 0.9910


official partner advert

Proud supporter of


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.


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