• Jury out again as a busy week gets underway

    It's the last full week of trading for a while but one that has potential to be a lively one with the US Fed widely expected, but by no means guaranteed given recent comments/data, to hike interest rates on Wednesday. The BOJ and BOE meet on Thursday but no fireworks expected from those at this time. Plenty of economic data out meanwhile plus Brexit constantly in the mix too of course.

    GBPUSD fell again on Friday and posted lows of 1.2530 but is currently back up posting 1.2602 as I type after an early Asian dip to 1.2560.Sellers, including me, remain poised still.EURGBP held 0.8960 but has since failed into 0.9000 (GBPEUR down to 1.1109 but holding). No real new Brexit news of note over the week-end to impact markets but it's surely only a matter of time.

    EURUSD remains on the back-foot but has rallied off its 1.1270 Friday lows to post 1.1325 while USDJPY continues to be tightly bound between 113.30-60. USDCHF has risen further to 0.9992 before also finding sellers again. EURCHF also tightly bound still but sellers remain poised on both even if the SNB will still look to "smooth" any dips.

    AUDUSD has found support around 0.7170 again but the Aussie $ remains on the back foot not helped by the soggy scenario in China. USDCAD making its mind up again with the Canadian $ still torn between the US$ and oil price fluctuations.

    Fickle Forex markets ever prevailing so get your orders in to take full advantage of these moves.

    On Saturday the mighty Shrimpers of Southend United returned to the hallowed Hall and in awful playing conditions duly produced a much-needed win with a spirited display.We'll hope now we can pick up a few points over the Xmas campaign.

    Have a good week out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.12 GMT

    GBPUSD 1.2595

    EURUSD 1.1314

    EURGBP 0.8983

    GBPEUR 1.1123

    USDJPY 113.38

    USDCAD 1.3382

    USDCHF 0.9972

    GBPAUD 1.7553

    GBPCAD 1.6853

    GBPCHF 1.2559

    GBPHKD 9.7649

    EURHKD 8.7790


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