• Jury out still and markets continue to second-guess

    We've seen some mixed risk sentiment again on uncertain equity/commodity prices, versus positive tones from US-China trade talks but with Trump trying to talk down the US Dollar again. Cue some price gaps on the Asian opening but some Greenback grabbing again since.

    GBPUSD capped at 1.3280 on Friday and fell back to 1.3172 only to find some end of session demand then that Asian opening gap to test 1.3280 again before falling back to 1.3226 helped by some GBPJPY supply. EURGBP has been ranging still after a run up to 0.8622 (GBPEUR 1.1595) and now back down to 0.8567 (1.1669).

    I remain GBP bearish overall and continue to rally-sell then buy the dips while respecting the current demand. I've also pointed out that equally there are plenty in favour of buying dips at the moment too on Brexit-led conjecture so I continue to see good two-way business.

    EURUSD is also ranging and going nowhere in real terms but has fallen back after its own gap rally to 1.1392 but now 1.1337 while USDJPY looks underpinned still but has failed to hold above 112.00 helped by some risk-off JPY demand.USDCHF continues in a tight range with EURCHF also still tightly bound.

    AUDUSD has had its own flurry higher n lower on the US-China trade talks/USD softer gap/weaker econiomic data whirl in Asia but the RBA rate decision tonight remains in focus followed by GDP data tomorrow.USDCAD spiked higher on Friday led by some awful Canadian GDP data and has continued to move higher on softer oil price tones. Soggy time times for the Canadian $.

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

    As for the inconsistent Shrimpers of Southend the less said about Saturday's 0-3 defeat against 10 man but well-drilled Barnsley the better. Grrrrrrr.

    Have a good day/week one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.30 GMT

    GBPUSD 1.3228

    EURUSD 1.1337

    EURGBP 0.8568

    GBPEUR 1.1669

    GBPAUD 1.8697

    GBPCAD 1.7592

    GBPZAR 18.8882

    GBPHKD 10.2572

    USDJPY 111.88

    EURJPY 126.86

    GBPJPY 148.03

    AUDUSD 0.7076

    EURCHF 1.1358

    USDCAD 1.3296

    USDCHF 1.0015

    USDZAR 14.2619

    EURHKD 8.7901

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