top of page
  • Writer's pictureMike Paterson

Another month nearly over

Tuesday 31 January 2023

Firmer Greenback tones as we enter the final day of January but the real fun and games are about to unfold as the new month gets underway with FOMC tomorrow, BOE & ECB on Thursday then US NFP data on Friday. Month-end flow signals still pointing to some equity/bond markets-related USD supply versus the US Corporate demand I emailed you about on Friday. Let's see how it continues to play out today as we head into the 4pm London fix.

Equities are in retreat still as European trading gets underway while WTI is also lower having capped at $80.00 this time then $78.00 and now testing $77.00 amid the generally risk-off tones which is also seeing some JPY demand. Gold now down through the $1920 support and testing $1900 after failing above $1925 as the guessing games continue. Ukraine/Russia war continues to be the elephant in the room amid other geo-political risk.

GBPUSD: Capping into 1.2420 again and now finally breaking down through 1.2330-50 helped by the USD demand and soggy IMF forecasts (not that anyone really takes them seriously) but still holding 1.2300 as I type.Keep an eye on GBP crosses still. EURGBP: Tightly bound 0.8770-90 for the moment. Expect some two-way business still as core pairs and CBs make their mind up. GBPJPY: Finding support at the old 160.40 line as I type after capping at 161.40 agin then 161.00 amid some general JPY demand as the jury remains out. Good two-way pips expected still whatever your preference.

EURUSD: Capped between 1.0900-20 yet again in yesterday's rally. Now broken down through 1.0840 in the extended retreat to test 1.0800 this morning. Still ranging and tightly bound overall.Some option contract interest today should we rally. USDJPY: A hold of 130.00 yesterday but equally failing around 130.50 yet again but holding 130.00 in the retreat. Now back above 130.30 amid some general USD demand but tempered by the risk-off JPY demand too.

Plenty more to read in my full report which you can receive by emailing Also for details on my 1-2-1 mentoring services for traders.

Interbank rates: 08.29 GMT

GBPUSD 1.2315

EURUSD 1.0810

EURGBP 0.8776

GBPEUR 1.1394

GBPCAD 1.6545

GBPCHF 1.1418

GBPZAR 21.4909

GBPHKD 9.5817

USDJPY 130.32

EURJPY 140.85

GBPJPY 160.49

EURCHF 1.0025

EURHKD 8.4094

AUDUSD 0.7013

NZDUSD 0.6429

USDCAD 1.3445

USDCHF 0.9277

14 views0 comments

Recent Posts

See All
bottom of page