• Jury out yet again as another week closes

    Lots of noise still going on re Brexit, US/China trade talks et al and as another week closes we're seeing a bit of risk-off sentiment again as the jury remains well and truly out still. I'll say again we are in fragile times and the markets will respond accordingly.

    GBPUSD broke lower to post fresh lows of 1.2773 having chewed through the 1.2800 and 1.2785 bids. Last night's governments defeats gave a little relief-rally rebound on a best of worse case scenario but sellers, including me remained poised. EURGBP has rallied on the general GBP supply and has been up to test 0.8830 (GBPEUR down to 1.1322).I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now.The latest Brexit shambles and recent economic data only adding to a growing realization that the UK is under the cosh in the short term whatever the final outcome.

    EURUSD failed above 1.1300 and still looks soggy helped by some EURJPY supply albeit with the usual dip demand while USDJPY failed above 111.00 helped by the change in the ever-fickle sentiment as I warned and we've been down to test 110.30.

    USDCHF remains underpinned but still seeing sell interest amid some EURCHF supply again while AUDUSD continues to range and be a jobbers delight with support at 0.7080 and sellers at 0.7130 still. USDCAD is ranging still and generally being contained by CADJPY action and variable oil prices.

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

    Tomorrow the inconsistent Shrimpers host high-flying Portsmouth and you can see us all cheering our socks off live on TV at 12.30 GMT. What better way to spend your Saturday lunchtime?

    Have a great week-end one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.33 GMT

    GBPUSD 1.2795

    EURUSD 1.1275

    EURGBP 0.8811

    GBPEUR 1.1348

    GBPAUD 1.8047

    GBPCAD 1.7019

    USDJPY 110.34

    EURJPY 124.40

    GBPJPY 141.14

    AUDUSD 0.7089

    EURCHF 1.1345

    USDCAD 1.3304

    USDCHF 1.0064

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  • Greenback grabbing continues

    It's been a decent 24 hours for the US Dollar as it once again earns itself the "best of a bad bunch" title again, for the time being at least. Brexit shambles still stealing a lot of the headlines as yet another parliamentary debate/vote concludes today.

    GBPUSD has now broken down through the decent line at 1.2830 to post one-month lows of 1.2813 having held again earlier only to fail at 1.2880. EURGBP has still been tightly bound with GBP and EUR still moving in tandem by and large.I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now. Being an old romantic at heart I am busy this evening but will try and provide some sort of update after the Brexit vote.

    EURUSD has found dip demand at the decent 1.1250 level that I've been highlighting but still looks soggy. USDJPY continues to look underpinned on the general USD demand and has now posted fresh highs of 111.13 but jury out still on risk sentiment.

    USDCHF also remains underpinned but still struggling to break up through those 1.0100 offers/res and some EURCHF supply again.AUDUSD continues to look soggy overall with rally sellers poised but support at 0.7080 still. USDCAD is ranging still but underpinned by the general USD demand.

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

    I wish you good trading.Let's continue to be careful out there and don't get greedy.

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.32 GMT

    GBPUSD 1.2823

    EURUSD 1.1256

    EURGBP 0.8777

    GBPEUR 1.1394

    GBPAUD 1.8048

    GBPCAD 1.7000

    GBPHKD 9.9417

    GBPZAR 18.1383

    USDJPY 111.06

    EURJPY 125.03

    GBPJPY 142.41

    AUDUSD 0.7106

    USDZAR 14.1387

    EURCHF 1.1359

    USDCAD 1.3257

    USDCHF 1.0090

    EURHKD 8.7223

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  • Risk-on returns

    We've seen the fears of another US govt shutdown talk recede and US/China trade talks take a positive turn and in these ever fickle times that's been enough to see some risk appetite return with JPY and CHF selling once again notable. Brexit fallout still stealing a lot of the headlines as yet another parliamentary debate/vote begins today,concluding tomorrow.

    GBPUSD has now been back up to look at 1.2920-30 again helped by the renewed GBPJPY and GBPCHF demand while EURGBP has been tightly bound again with GBP and EUR still moving in tandem by and large.I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now.

    EURUSD has also found dip demand after holding 1.1250 helped by EURCHF, EURJPY and EURGBP buying while USDJPY continues to look underpinned helped by the JPY selling but jury out still on risk sentiment imho. USDCHF also remains underpinned helped by CHF selling and renewed EURCHF demand and we've been up to 1.0077 EURCHF finding demand around 1.1380 to post new recent highs of 1.1414.

    AUDUSD continues to look soggy overall but has now broken up through 0.7120 to post 0.7136 helped by AUDJPY before fading USDCAD failed above 1.3280 again and has been back to test 1.3200 support with some CADJPY demand also in play again.

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

    Disappointing result for the inconsistent Shrimpers last night losing 3-0 after a bright start to both halves. Tough game back at the hallowed Hall this Saturday but hey, it's live on TV at 12.30 so make sure you tune in ! Congrats to England's cricketers for finally getting their WI tour act together. Bring on The Ashes !!

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.30 GMT

    GBPUSD 1.2910

    EURUSD 1.1323

    EURGBP 0.8773

    GBPEUR 1.1398

    GBPAUD 1.8141

    GBPCAD 1.7080

    USDJPY 110.68

    EURJPY 125.34

    GBPJPY 142.85

    AUDUSD 0.7114

    EURCHF 1.1390

    USDCAD 1.3232

    USDCHF 1.0058

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  • US Dollar remains underpinned while markets continue to second-guess

    It's still all very delicately poised again out there amid the ongoing fragility. Potential US govt shutdown talk, US/China trade deal uncertainty, Brexit fallout still stealing a lot of the headlines as the clock ticks down all providing an uncertain backdrop amid some general USD demand again. We've seen some risk-on sentiment too at times just to add to the general confusion.

    GBPUSD has now been down through 1.2880-00 to post lows of 1.2834 as I type amid the general Greenback grabbing after capping into 1.2940 yesterday on front-running ahead of the decent sell interest around 1.2950 I've been highlighting. EURGBP has been tightly bound again with GBP and EUR both moving in tandem by and large versus the generally bid USD scenario.

    I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now.More attempts by May to appease her party and Parliament with an update due today ahead of the latest debate tomorrow and Thursday .GDP data yesterday was predictably soft but I stand by my view that it's not all down to Brexit.

    EURUSD has also fallen further amid the USD buying but holding 1.1250 as I type although it's looking soggy still while USDJPY continues to look underpinned and has climbed through 110.50 helped by some JPY selling but jury out still on risk sentiment imho. USDCHF has rallied again after the Sunday fallout saw 1.0115 highs become 0.9980 lows and we've been back up to 1.0071 with EURUSD still fragile and EURCHF finding demand around 1.1300.

    AUDUSD continues to look soggy but ranging 0.7050-00 for the moment while USDCAD remains underpinned on firmer USD/softer oil prices but has failed above 1.3300 again with some CADJPY demand also in play still.

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

    Tonight the currently mighty Shrimpers travel north to Yorkshire in search of a result to consolidate Saturday's fine effort. England's cricketers finally finding some form/cohesion/common sense in the West Indies. Reasons to be cheerful.

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.28 GMT

    GBPUSD 1.2865

    EURUSD 1.1270

    EURGBP 0.8760

    GBPEUR 1.1415

    GBPAUD 1.8168

    GBPCAD 1.7085

    GBPZAR 17.7647

    USDJPY 110.57

    EURJPY 124.61

    GBPJPY 142.22

    AUDUSD 0.7080

    USDZAR 13.3834

    EURCHF 1.1332

    USDCAD 1.3285

    USDCHF 1.0057

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  • Fragile conditions prevailing still

    It's all very delicately poised again out there as a new week gets underway amid the ongoing fragility. Potential US govt shutdown again, Brexit fallout still rumbling as the clock ticks down, CHF chaos in illiquid early Asian markets, more protests in France, all providing an uncertain backdrop amid some general USD demand and risk-off sentiment again.

    GBPUSD has been ranging tightly with 1.2900 holding an early attack this morning after capping into 1.2980 on Friday.EURGBP has been tightly bound with GBP and EUR both moving in tandem by and large vs the generally bid USD scenario. I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now.More attempts by May this week to get her Brexit "deal" through and GDP data just out softer than expected.

    EURUSD has found support into 1.1300 with those buyers at 1.1320-30 now history and it's looking soggy still as I've been warning. USDJPY remains underpinned and breaking up through 110.10 as I type helped by some risk-off Yen selling. USDCHF saw some wild moves in early Asia with talk of stops through being triggered and in thin liquidity we saw a sharp spike to 1.0115 before falling back just as quickly then finding support at the 0.9980 area with EURUSD still fragile. EURCHF posted highs of 1.1439 before falling back to test support at 1.1300. Beware the SNB as ever.

    AUDUSD continues to look soggy but trading tightly between 0.7060-0.7120.USDCAD remains underpinned on firmer USD/softer oil prices but some CADJPY demand also in play after a decent retreat from 1.3300 below 1.3240 on Friday.

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

    The ever inconsistent Shrimpers produced one of their gutsiest displays of the season after going going one goal up but one man down in the early stages to earn a point at Charlton. Lots of positives to harness hopefully.

    Have a great week one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.45 GMT

    GBPUSD 1.2918

    EURUSD 1.1310

    EURGBP 0.8756

    GBPEUR 1.1420

    GBPAUD 1.8217

    GBPCAD 1.7150

    GBPHKD 10.0153

    USDJPY 110.08

    EURJPY 124.51

    GBPJPY 142.19

    AUDUSD 0.7089

    EURCHF 1.1320

    USDCAD 1.3278

    USDCHF 1.0009

    EURHKD 8.7700

    Read more...

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