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  • Mike Paterson

Month-end casts its shadow

Wednesday 30 September 2020

Lots of month-end flows and risk sentiment contra-flows confusing the general picture as per my updates and tweets. Expect more today and as ever keep an eye on the 4pm London fix.


The BBC describes last night's Trump/Biden debate as a food fight and that sums it up for me. The madness/sadness of US poliics ever thus.


Behind the time curve this morning and you will have seen all the moves/my tweets in past 24 hours so no need for me to summarize so here's the order boards.


GBPUSD: failed above 1.2900 but holding 1.2800 for the moment amid various cross pair influence.

EURGBP: Usual month end demand in play and underpinned now at 0.9100-20 but a few sellers lining up at at 0.9160 and 0.9180.GBPJPY ranging higher and underpinned by better risk sentiment but off its 136.10 highs.


I stay poised to sell GBP rallies as my preferred side and buy back in the dips as ever.  Patience continues to be a virtue and entry level key as always. I still see dip demand though with markets still in a state of uncertainty overall.


USDJPY remains underpinned amid month-end demand and generally better risk but sellers still poised.EURUSD finding some strong EUR cross pair demand in both EURGBP and EURJPY but capping at 1.1750 atm.Final month-end flows will be interesting.USDCHF underpinned into 0.9200 but equally failing above 0.9250.


AUDUSD also underpinned by AUDJPY demand nd posting highs of 0.7150 but in retreat toward 0.7100 as I type.USDCAD still ranging amid the variable oil/USD tones. Currently 1.3350-1.3450.


Markets are ever-fickle so don't forget to contact me if there's areas that you might need some further help with.


Let's continue to be careful out there in all things. Staying safe must be our main priority still.


Interbank rates:  09.30 BST

GBPUSD   1.2823

EURUSD   1.1716

EURGBP   0.9135

GBPEUR   1.0944

GBPAUD   1.7998

GBPCAD   1.7180

GBPJPY   135.52

GBPZAR   21.7050

GBPHKD   9.9416

USDJPY   105.68

USDZAR   16.9195

EURJPY   123.82

EURCHF   1.0803

EURHKD   9.0841

AUDUSD   0.7122

USDCAD   1.3400

USDCHF   0.9222


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