• 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

    0 Comments

social_rss_box_orange
official partner advert

Proud supporter of

tel
emailsymbol

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.

Euros-1024x683
003-paradise-island-x

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