• US Dollar still in the driving seat

    It's Friday the 13th but the greenback is fearing nothing right now in its current role as best of a bad bunch again.

    GBPUSD has broken down through the 1.3180 and 1.3150 support areas and now trading at 9-day lows as I type.Immediate support/buying interest now at 1.3100 then 1.3075-80 and 1.3050-60.Sellers poised now into 1.3150 then around 1.3180 and 1.3200. Keep selling the rallies with Brexit and UK government turmoil never far from the headlines, plus now we have fresh US trade concerns as Trump trashes May's latest Brexit blueprint.

    EURGBP remains underpinned on the general Pound weakness with buyers still lining up between 0.8820-30, 0.8800 and 0.8785.Sellers now into 0.8880 then 0.8900

    EURUSD has fallen to look at 1.1600. Buyers lined up there then larger into 1.1580 and 1.1550. Sellers initially around 1.1650 then 1.1680 and 1.1700

    USDJPY continues its rally but has capped so far at 112.80 ahead of large barrier option contract interest at 113.00.Buyers now around 112.50 then 112.30 and 112.00. Sellers around 112.80 still then 113.00, 113.20 and 113.50 where another barrier option lays in wait. USDCHF has rallied too and is now above 1.0000 for the first time in a while but capped again by more sellers on EURCHF around 1.1700.

    AUDUSD still has bids/support around 0.7350 then 0.7320 and 0.7300 still where large barrier option interest lurks. Sellers around 0.7400 then 0.7420 again and 0.7450. USDCAD remains underpinned but running into sellers at 1.3200. More around 1.3230 then 1.3250 still with buyers still poised now between 1.3150-60

    Fickle and fragile markets prevailing still so get your orders in to take full advantage of these moves.

    Have a good week-end out there one and all.

    Twitter: @MSPFX @MikePatersonFX

    Interbank Rate 09.15 BST

    GBPUSD 1.3118

    EURUSD 1.1618

    EURGBP 0.8856

    GBPEUR 1.1291

    USDJPY 112.74

    USDCAD 1.3190

    USDCHF 1.0036

    GBPAUD 1.7778

    GBPCAD 1.7301

    GBPCHF 1.3164

    GBPZAR 17.4874

    GBPHKD 10.1735

    EURHKD 9.0103

    Read more...

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  • USD demand notable again as risk-on trades return

    Equity markets performing better and reports of US/China renewing talks on trade issues both helping to bring some relief and the US$ is the main beneficiary.

    GBPUSD has held the 1.3180 support area again helped by some GBPJPY demand as safe-haven Yen demand fades again for the moment.Immediate support/buying interest still there then 1.3150-60.Sellers poised around 1.3230, 1.3350 then 1.3280-00 still. Keep selling the rallies and buy back in the dips with the Brexit and UK government turmoil never far from the headlines.

    Today sees the publication of the UK government's latest Brexit plans which may bring some volatility. Let's see what the EU makes of it.EURGBP remains tightly bound with buyers still lining up between 0.8820-30, 0.8800 and 0.8785.Sellers still into 0.8860, 0.8880 then 0.8900

    EURUSD has fallen to look at at 1.1660 but also has some demand on EURJPY buying interest for the moment. Buyers around 1.1650 then larger into 1.620 and 1.1600. Sellers initially around 1.1700 then 1.1720 and 1.1750.

    USDJPY finally broke up through the 111.50 large barrier option contract interest amnd has continued up to 112.42 on the USD demand/Yen selling combo.Buyers now around 112.00 then 111.80 and 111.50. Sellers now around 112.50 then 112.80-00. USDCHF has rallied to post 0.9972 but capped again by sellers poised on EURCHF still around 1.1650-60 as I warned yesterday.

    AUDUSD now has bids around 0.7350 then 0.7320 and 0.7300 still where large barrier option interest lurks. Sellers now around 0.7400 then 0.7420 and 0.74500. USDCAD fell to 1.3065 on the BOC raising interest rates but buyers quick to pounce and helped by the USD demand has been back up to 1.3220. Sellers now around 1.3230 then 1.3250 with buyers initially now at 1.3150-60

    Fickle and fragile markets prevailing still so get your orders in to take full advantage of these limited moves.

    England's wonderful bid to win the World Cup ended last tonight in a disappointing performance but we have lots to be hopeful about moving forward. Bring on the Euros!

    Have a good day out there one and all.

    Twitter: @MSPFX @MikePatersonFX

    Interbank Rate 09.15 BST

    GBPUSD 1.3216

    EURUSD 1.1684

    EURGBP 0.8840

    GBPEUR 1.1311

    USDJPY 112.37

    USDCAD 1.3192

    USDCHF 0.9965

    GBPAUD 1.7898

    GBPCAD 1.7435

    GBPCHF 1.3171

    GBPZAR 17.8314

    GBPHKD 10.2464

    EURHKD 9.0588

    Read more...

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  • Brexit and global trade wars still in focus but range-trading prevails

    After the Brexit fun and games of Monday yesterday saw two more high profile resignations but it's Trump who is stealing a few headlines on his European tour with more tirades over NATO contributions and trade.Cue a little risk-off sentiment but in these Summer markets we're seeing tight ranges prevail again.

    GBPUSD held the 1.3220 support area I highlighted but similarly failed to get back above the 1.3300 sell interest.Immediate support/buying interest now around 1.3250 then at 1.3220 again, 1.3200 and 1.3180-85.Sellers poised around 1.3300 still then 1.3320 and 1.3350. Keep selling the rallies and buy back in the dips with the Brexit and UK government turmoil never far from the headlines.EURGBP has also been tightly bound with buyers still lining up between 0.8820-30, 0.8800 and 0.8785.Sellers now into 0.8860, 0.8880 then 0.8900

    EURUSD remains underpinned with buyers around 1.1720 still then larger into 1.1700 and 1.1680. Sellers initially around 1.1760 then 1.1780-00 still.

    USDJPY has found buyers around 110.80 again but rally sellers remain poised into 111.50 where large barrier option contract interest lurks. More buyers around 110.50-60 still then more interest bids around 110.30 and 110.00. Sellers around 111.20 still and 111.50. USDCHF has held 0.9900 once again but still trading tightly again with EURCHF holding back above 1.1600 but with sellers still poised above 1.1660.

    Aussie, NZ and Canadian $ have also been ranging still. AUDUSD now has bids around 0.7400 then 0.7380. Sellers now between 0.7450-60 then 0.7480 and 0.7500. USDCAD buyers at 1.3100 still then 1.3080. Sellers around 1.3160 again, 1.3180 and 1.3200

    Fickle and fragile markets prevailing still so get your orders in to take full advantage of these limited moves.

    England's amazing World Cup adventure continues tonight and we continue to dream. Bring it home boys.

    Have a good day out there one and all.

    Twitter: @MSPFX @MikePatersonFX

    Interbank Rate 07.25 BST

    GBPUSD 1.3270

    EURUSD 1.1738

    EURGBP 0.8846

    GBPEUR 1.1302

    USDJPY 111.06

    USDCAD 1.3132

    USDCHF 0.9914

    GBPAUD 1.7906

    GBPCAD 1.7427

    GBPCHF 1.3155

    GBPZAR 17.8064

    GBPHKD 10.2883

    EURHKD 9.1030

    Read more...

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  • Brexit turmoil sends Pound lower again but it's not quite that simple

    I returned to the UK last night after a short break to learn of the UK government resignation news which gave the Pound a kick lower only to recover some poise again. Markets currently have May's soft Brexit option as GBP positive and along with some key economic data due this morning, including a new monthly GDP reading, traders have been quick to cover some short positions.

    GBPUSD was heading up through 1.3350 when the news broke, sending the pair down to 1.3188 in rapid time but we're back up testing 1.3300 as I type

    Immediate support/buying interest now at 1.3220 then 1.3200 and 1.3180-85.Sellers poised around 1.3330, 1.3320. Keep selling the rallies and buy back in the dips with the Brexit and UK government turmoil never far from the headlines as I've been warning.EURGBP buyers round 0.8820-30, 0.8800 and 0.8785.Sellers now between 0.8880 then 0.8900

    EURUSD remains underpinned helped by the EURGBP and EURJPY demand. Buyers around 1.1720 then larger into 1.1700 and 1.1680. Sellers initially around 1.1760 then 1.1780-00

    USDJPY has found buyers around 110.80 but rally sellers remain poised. More buyers around 110.50-60 still then more interest bids around 110.30 and 110.00. Sellers around 111.20 still and 111.50. USDCHF has held 0.9900 again but still trading tightly again with EURCHF holding back above 1.1600 but with sellers still poised.

    Aussie, NZ and Canadian $ have all found a few buyers again but ranging still. AUDUSD has bids around 0.7450,0.7420 then 0.7400. Sellers now around 0.7480 and then 0.7500. USDCAD buyers at 1.3100 then 1.3080. Sellers around 1.3160, 1.3180 and 1.3200

    Fickle and fragile markets prevailing still so get your orders in to take full advantage of the moves.

    England's amazing World Cup adventure continues and we continue to dream. Bring it home boys.

    Have a good day out there one and all.

    Twitter: @MSPFX @MikePatersonFX

    Interbank Rate 08.50 BST

    GBPUSD 1.3273

    EURUSD 1.1744

    EURGBP 0.8847

    GBPEUR 1.1301

    USDJPY 111.07

    USDCAD 1.3129

    USDCHF 0.9915

    GBPAUD 1.7787

    GBPCAD 1.7422

    GBPCHF 1.3160

    GBPZAR 17.7383

    GBPHKD 10.2882

    EURHKD 9.1038

    Read more...

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  • FX markets going nowhere in a hurry still

    More of the same in the wonderfully fickle world of Forex but the Pound has found a little support again after better than expected UK Services PMI data yesterday.

    GBPUSD was in retreat again but held support lines around 1.3170 and bounced on the data to look at 1.3200-20 again but was capped initially by EURGBP support around 0.8820 (GBPEUR sellers 1.1340) then 0.8800 (GBPEUR sellers 1.1365). Eventually we broke higher in thin US holiday liquidity conditions to test 1.3250 before retreating.

    Immediate support/buying interest now around 1.3220 then 1.3200, 1.3175-80 and between 1.3140-50 again.Sellers poised around 1.3250 still then 1.3280-00. I'll keep selling the rallies and buy back in the dips with Brexit and UK government turmoil never far from the headlines.EURGBP buyers still around 0.8800 and 0.8785.Sellers now between 0.8850-60, 0.8880 then 0.8900

    EURUSD has found sellers above 1.1700 again where large option contract interest rolls off today with more between 1.1730-50. The pair looks underpinned but good two-way interest expected still. Buyers around 1.1660 then larger into 1.1600-20 still where more option contracts roll off today. Sellers initially around 1.1700 still then 1.1730-50.

    USDJPY found demand around 110.30 again where I highlighted buyers yesterday but rally sellers remain poised. Buyers now around 110.50-60 with option contact interest of its own there then more bids around 110.30 and 110.00. Sellers around 110.80, 111.00 and 111.20 still. Barrier option sell interest at 111.50 behind that. USDCHF has held 0.9900 trading tightly again with EURCHF climbing back above 1.1600 but with sellers still poised.

    Aussie, NZ and Canadian $ have all found a few buyers again but all three going nowhere in a hurry for the moment. AUDUSD still has bids around 0.7350 and 0.7320 then 0.7300 where a large barrier option interest provides support. Sellers still around 0.7400 and then 0.7420-25 again. USDCAD buyers at 1.3120 then 1.3100. Sellers around 1.3180 then 1.3200 and 1.3220

    Fickle and fragile markets prevailing still so get your orders in to take full advantage of the moves.

    Please be advised that I shall be away for a short break from tomorrow (Friday) and my next update will be Tuesday. MSPFX clients please contact your rate providers should you need to trade meanwhile.

    Have a good day and week-end out there one and all.

    Come on England!!!

    Twitter: @MSPFX @MikePatersonFX

    Interbank Rate 09.30 BST

    GBPUSD 1.3230

    EURUSD 1.1689

    EURGBP 0.8835

    GBPEUR 1.1318

    USDJPY 110.62

    USDCAD 1.3143

    USDCHF 0.9927

    GBPAUD 1.7923

    GBPCAD 1.7392

    GBPCHF 1.3138

    GBPZAR 18.1348

    GBPHKD 10.2572

    EURHKD 9.0627

    Read more...

    0 comments

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