• BOJ on hold, ECB decision due later today

    All eyes on the central banks at the moment and while the BOJ left policy on hold as expected we may still get some surprises from the ECB later if only in rhetoric with policy/rates remaining on hold the factored-in outcome.

    Meanwhile GBPUSD has been contained in a 1.3000-50 range and EURGBP 0.8820-60 (GBPUSD 1.1287-1.1337) with the Euro finding a few sellers as caution prevails heading into the ECB announcement at 12.45 BST and press conference at 13.30 BST. Overall the Pound remains a mixed bag going nowhere in a hurry.

    EURUSD is currently at the lower end of a 1.1500-50 range while USDJPY fell further to 111.55 yesterday only to move back up to 112.18 from 111.80 after the BOJ decision. USDCHF has traded 0.9530-65 with gains tempered by EURCHF selling.

    The Aussie $ has also seen a few recent gains reversed after AUDUSD ran into sellers approaching 0.8000 but the Canadian $ remains well supported by firmer oil and ongoing hawkish BOC expectations.

    Don't forget to place your orders to maximize gains/minimize losses with volatility expected to return.

    Have a good day out there one and all.

    Interbank Rates 06.10 BST

    GBPUSD 1.3021

    EURUSD 1.1510

    EURGBP 0.8840

    GBPEUR 1.1311

    USDJPY 112.10

    AUDUSD 0.7938

    USDCAD 1.2619

    GBPAUD 1.6402

    GBPCAD 1.6432

    GBPCHF 1.2448

    GBPZAR 16.8540

    GBPHKD 10.0952

    EURHKD 8.9243

    GBPSGD 1.7829

    Read more...

    0 comments

  • Markets wait on ECB and BOJ tomorrow

    Decent volatility in the past 24 hours but caution returning as attention now turns to the latest interest rate policy announcements from the European Central Bank and Bank of Japan tomorrow.

    GBPUSD has been down to test 1.3000 only to bounce but failing to breach 1.3050 while EURGBP has risen to 0.8864 (GBPUSD down to 1.1282) with Euro demand outstripping that for the Pound again. Overall the Pound remains a mixed bag.

    EURUSD has been up to 1.1584 before running into strong sell interest while USDJPY has once again held onto 111.85 support but failing to rally too far. USDCHF held 0.9520 and has rallied a little with EURCHF demand returning after yesterday's fall.

    The Aussie $ has held onto a few gains after some unexpectedly bullish Minutes yesterday from the last RBA meeting while the Canadian $ also remains well supported on hawkish expectations of the BOC still.

    Don't forget to place your orders to maximize gains/minimize losses with more volatility expected.

    Have a good day out there one and all.

    Interbank Rates 06.20 BST

    GBPUSD 1.3033

    EURUSD 1.1535

    EURGBP 0.8849

    GBPEUR 1.1300

    USDJPY 112.06

    AUDUSD 0.7928

    USDCAD 1.2632

    GBPAUD 1.6438

    GBPCAD 1.6464

    GBPCHF 1.2455

    GBPZAR 16.8172

    GBPHKD 10.1045

    EURHKD 8.9420

    GBPSGD 1.7822

    Read more...

    0 comments

  • USD selling notable again

    Weak data from across the pond and political concerns over the Obamacare bill repeal have brought US$ sellers out again as the new week gets underway. Trump is facing serious resistance even in his own Republican-majority Congress.

    GBPUSD had fallen back to test 1.3050 but has since rallied to 1.3104 while EURGBP has risen to 0.8823 (GBPUSD down to 1.1334) with Euro demand outstripping that for the Pound. Overall the Pound remains a mixed bag.

    EURUSD has been up to 1.1538 while USDJPY has broken back down through 112.00 to post lows of 111.98 so far. USDCHF has fallen to 0.9585 but falls have been limited by EURCHF demand still.

    The Aussie $ has rallied strongly in Asia after some unexpectedly bullish Minutes from the last RBA meeting.

    Don't forget to place your orders to maximize gains/minimize losses as these fickle markets continue.

    The less said the better about England's display in the 2nd Test versus South Africa.

    Have a good day out there one and all.

    Interbank Rates 06.42 BST

    GBPUSD 1.3100

    EURUSD 1.1532

    EURGBP 0.8803

    GBPEUR 1.1357

    USDJPY 112.04

    AUDUSD 0.7905

    USDCAD 1.2643

    GBPAUD 1.6574

    GBPCAD 1.6561

    GBPCHF 1.2568

    GBPZAR 16.8804

    GBPHKD 10.1564

    EURHKD 8.9428

    GBPSGD 1.7905

    Read more...

    0 comments

  • USD sellers return and Pound takes good advantage

    The roller-coaster week ended with the greenback on the back foot and so remains as we venture into another Summer week of low liquidity conditions.

    GBPUSD held the 1.2900 support area that I highlighted on Friday and with weaker US data we've been up to 1.3114 helped by ongoing pressure on EURGBP. The pair has tested 0.8750 support(GBPEUR up to 1.1435) and still remains on the backfoot. Overall the Pound has held its own but commodity based currencies are finding even greater favour.

    EURUSD has been up to 1.1475 while USDJPY has broken back down through 112.80 and 112.50 support to post lows of 112.40. USDCHF failed into 0.9700 again but found some dip demand as buy interest on EURCHF around 1.1030 again provides support.

    The Aussie $ and Canadian $ continue to feel the love on steady commodity prices and general US$ weakness.

    Don't forget to place your orders to maximize gains/minimize losses as these fickle markets continue.

    What an amazing week-end of sport. Enough said. Simply stunning.

    Have a good week one and all.

    Interbank Rates 07.18 BST

    GBPUSD 1.3083

    EURUSD 1.1452

    EURGBP 0.8753

    GBPEUR 1.1424

    USDJPY 112.65

    AUDUSD 0.7816

    USDCAD 1.2665

    GBPAUD 1.6755

    GBPCAD 1.6570

    GBPCHF 1.2621

    GBPZAR 17.0354

    GBPHKD 10.1432

    EURHKD 8.8788

    GBPSGD 1.7926

    Read more...

    0 comments

  • Pound ending the week in positive mood

    It's been a roller coaster ride this week but the Pound has proved resilient to a couple of kicks lower and currently heading higher again.

    GBPUSD held 1.2880 yesterday and is currently posting 1.2955 after repelling another attempt to get back below 1.2900 with traders keen to take some money off the table ahead of the week-end. EURGBP is driving the move again and has fallen further to test 0.8800 support(GBPEUR up to 1.1365) as the Euro's early week demand continues to be sold into. Overall the Pound has held its own too in what has been a mixed bag for other currencies with no specific trend prevailing.

    EURUSD fell to 1.1370 yesterday only to find a few buyers in that dip but has since struggled to get back over 1.1420. USDJPY survived another look below 113.00 but has rallied again to post 113.58 and USDCHF has also found some dip demand but rallies capped by sell interest on EURCHF around 1.1030 after holding 1.1000.

    The Aussie $ and Canadian $ continue to feel some love on steady commodity prices and the BOC's interest rate hike this week.

    Don't forget to place your orders to maximize gains/minimize losses as these fickle markets continue.

    Have a good week-end one and all.

    Interbank Rates 06.10 BST

    GBPUSD 1.2952

    EURUSD 1.1405

    EURGBP 0.8800

    GBPEUR 1.1362

    USDJPY 113.44

    AUDUSD 0.7744

    USDCAD 1.2733

    GBPAUD 1.6732

    GBPCAD 1.6500

    GBPCHF 1.2528

    GBPZAR 17.0972

    GBPHKD 10.0417

    EURHKD 8.8380

    GBPSGD 1.7806

    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