• Risk-off sentiment again as the world remains a fragile place

    Equity markets and oil prices are retreating again with gold bouncing back up and that's brought back some more currency safe-haven appetite with JPY and CHF leading the way again. These markets remain fickle and fragile as I've been warning with Trump throwing his toys out the pram on a number of issues and Brexit also back on the front page as the UK government now loses two votes in parliament.

    GBPUSD has been up to test 1.2800 again but has now fallen back to look at support around 1.2750 this morning helped by GBPJPY supply again. EURGBP continues to look underpinned as GBP falters and now been up to test those 0.9050 offers (GBPEUR down to 1.1045) before Euro sellers prevailed again. I remain GBP bearish overall and happy to jump on rallies

    EURUSD continues to see good two-way business but looks underpinned still and has been up to 1.1570 before retreating. EURJPY and EURCHF supply also helping to cap rallies into 1.1580. USDJPY has had another nice dip to 107.77 after that failure at 109.00 and subsequent break back down of 108.30 and 108.00 on the renewed risk-off and Japanese exporter JPY demand.USDCHF has now also broken lower on the CHF demand/EURUSD rally combo to post fresh recent lows of 0.9716 but still finding some degree of support from EURCHF dip demand now above 1.1220 with the SNB ever-watchful.

    AUDUSD continues to look underpinned helped by renewed safe-haven gold demand, a correlation that's been notable again lately, but still has rally sellers poised including me. USDCAD had a wobble to 1.3180 on the BOC interest rate no-chsnge decision/rhetoric but we've seen some CAD weakness reappear as oil prices retreat and CADJPY sellers return.

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

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.25 GMT

    GBPUSD 1.2754

    EURUSD 1.1542

    EURGBP 0.9042

    GBPEUR 1.1055

    GBPAUD 1.7775

    GBPCAD 1.6894

    GBPHKD 9.8882

    USDJPY 108.08

    EURJPY 124.58

    GBPJPY 137.92

    AUDUSD 0.7177

    EURCHF 1.1249

    USDCAD 1.3240

    USDCHF 0.9762

    EURHKD 8.9437

    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