Another mixed bag to start the week
Monday 19 August 2019
Lots of news out on Friday/over the weekend and most of it not too great for risk but markets seem to be shrugging it off for the moment. Conditions and sentiment remain fragile though as ever. Trump is back from his hols making a few comments and due to make more on Huwaei today.
GBPUSD has found itself under pressure again amid more Brexit bs and helped by some by EURGBP demand this morning into 0.9100 as EURUSD also finds demand into 1.1080 gain.EURGBP has been up to 0.9165 from 0.9110 lows but holding for the moment. GBPJPY has broken up through 128.80-00 helped by some USDJPY dip demand again on a bit of better risk sentiment.
I remain GBP bearish overall and will continue to rally-sell as my preferred strategy amid all the uncertainty/indecision including Brexit/political fallout but respecting the dip demand after decent recent falls.No reason to change my view any time soon.
EURUSD has fallen through the 1.1130 and 1.1100 support again before stalling at the stronger 1.1080 area. while USDJPY has found dip demand again on some better risk sentiment strangely given all that's going on out there but also a little USD demand too. USDCHF remains range bound and underpinned but tempered by EURCHF finding rally sellers again amid the latest EURUSD supply and has failed about 0.9800 but with the SNB ever watchful and still seemingly providing dip support as I have said for a while.
AUDUSD remains tightly bound with sellers above 0.6800 but buyers around 0.6760 holding again while USDCAD remains underpinned but still struggling to make headway above 1.3300-20 and remains range bound.
Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.
Don't forget I offer 1-2-1 mentoring if there's areas of trading/executing your business in this latest volatility that you might need some further help with.
What a good Second Test match at Lords between England and Australia despite the rain interruptions and a great last day to witness too.Is it too much to hope that Archer can yet make an impact on the series? I think not. England need to share the expectation load though and will welcome back Anderson. Broad was disappointing yesterday but Leach looked tidy. Ben Stokes just continues to impress in all areas.
As for Southend well we get another chance to put things right tomorrow night but it's not looking good. Manager blaming the strikers while we leak another four sloppy goals in at the back. Strange, but we'll keep believing. Serious improvement needed soon though.
Have a good day/week out there one and all.
Interbank Rate 09.40 BST