• A mixed bag still as another week closes

    We've seen a mix of notable moves (all relative these days) and range trading as another week in the ever fickle world of Forex comes to a close.

    GBPUSD continues tightly bound as today's Brexit date comes and goes. Now extended to 31 October Parliament will be on holiday next week after all so we'll expect a few sound bites but nothing of real note as the debacle rolls on.EURGBP also remains tightly bound and still underpinned by the GBP supply/EUR demand scenario.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy but I continue to respect the two-way business amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines.

    EURUSD continues to trade tightly but underpinned still helped by option expiry support, EURJPY M&A demand and Asian fix buying seeing a sharp rally to 1.1295 from 1.1260 before being capped y 1.1300 sell interest. USDJPY made steady gains amid that M&A Yen selling and preliminary US-Japan trade talk sound bites but rally sellers remain poised.USDCHF remains underpinned as EURUSD firms but ranging tightly and EURCHF still finds support around 1.1280 as the SNB remain ever-watchful.

    AUDUSD remains range bound amid RBA rate cut talk versus positive Chinese data while USDCAD also still making its mind up amid the USD and oil uncertainty and has failed into 1.3400 but remains supported at 1.3300.

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

    I am now heading away for my long week-end break as previously notified and my next update will be Tuesday. Please contact my rate providers directly should you need to trade.

    Tomorrow the mighty Shrimpers of Southend return to the hallowed Hall and my deliberately chosen week-end destination will allow me to make a 1hr 45min drive to be there and cheer the boys on in these much needed times. A must-win game so bring it on!

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

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 06.13 BST

    GBPUSD 1.3072

    EURUSD 1.1288

    EURGBP 0.8634

    GBPEUR 1.1579

    GBPAUD 1.8321

    GBPCAD 1.7463

    GBPZAR 18.3076

    GBPHKD 10.1347

    USDJPY 111.75

    USDZAR 14.0185

    EURJPY 126.14

    EURHKD 8.7527

    GBPJPY 146.07

    AUDUSD 0.7135

    EURCHF 1.1317

    USDCAD 1.3360

    USDCHF 1.0026


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