• Risk sentiment wobbly again

    Apple have come out with a Q1 profits warning and put the blame at the feet of Coronavirus confirming the economic damage that we can likely expect. Cue further risk-off sentiment after a steadier couple of days. Meanwhile GBP falls back ahead of the start of a run of key data with UK wages/jobs the first off the ramp at 09.30 GMT today.

    GBPUSD has fallen through that decent support at 1.3000-20 to post 1.2971 just ahead of the next line at 1.2960-70. GBPJPY and GBPCHF supply also helping to push it lower along with a general bid under EURGBP for the moment.EURGBP has held 0.8320 to test offers/res around 0.8350 (GBPEUR down to 1.1978).GBPJPY has fallen again amid the softer risk sentiment in this ever fickle world of FX but support nearby at 142.30 and 142.00.

    I stay poised to sell GBP rallies and buy back in the dips as ever.Still ranging overall. UK wages/jobs data today then Inflation/Retails tomorrow in the mix along with the Brexit/political fallout.

    EURUSD remains undermined helped now by some renewed EURJPY and EURCHF selling,but also finding some dip demand still into 1.0800. USDJPY is finding support around 109.70 yet again but sellers still poised as risk wobbles again. EURJPY remains a little soggy still and testing those bids around 118.80 again.USDCHF continues to find support but rallies tempered again by some EURCHF supply returning albeit still holding around 1.0600 with the SNB casting a shadow still.

    AUDUSD has fallen again helped by some risk-off AUDJPY supply and RBA Minutes still to the cautious side, albeit as expected. Large option expiry interest at 0.6700 and between 0.6740-50 tomorrow and the large interest on 20 Feb at 0.6700 should help contain but bids at 0.6680-85 now giving way as I type. USDCAD remains range bound still with 1.3225-30 holding again but equally sellers still poised into 1.3270 on the latest CADJPY supply-led rally.

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

    Another game tonight at the hallowed Hall against local rivals from Kent, Gillingham, and another big test for the young Shrimpers. We'll keep believing and cheering.

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank rates: 08.27 GMT

    GBPUSD 1.2983

    EURUSD 1.0829

    EURGBP 0.8342

    GBPEUR 1.1986

    GBPAUD 1.9427

    GBPCAD 1.7208

    GBPJPY 142.41

    GBPZAR 19.5784

    GBPHKD 10.0665

    USDJPY 109.72

    USDZAR 15.0723

    EURJPY 118.80

    EURCHF 1.0617

    EURHKD 8.3985

    AUDUSD 0.6683

    USDCAD 1.3256

    USDCHF 0.9805


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