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  • Mike Paterson

More of the same as traders remain cautious

Lots going on in the world of global politics/oneupmanship/trade deals and markets rightly remain uncertain on future trends. Risk-off sentiment by and large prevailing again too reflecting that fragility.

GBPUSD yesterday fell to test 1.31

00 but failed to break much lower and has bounced to 1.3180 this morning as I type. Immediate support/buying between 1.3140-50 again then1.3120, 1.3100 and 1.3075-80.Sellers around 1.3200, 1.3220 and 1.3250. Keep selling the rallies with Brexit and UK government turmoil never far from the headlines.

EURGBP has traded tightly still in a range of 0.8845-70 (GBPEUR 1.1274-1.1303). Buyers still between 0.8820-30, 0.8800 and 0.8785 still.Sellers now around 0.8880 then 0.8900 and 0.8920

EURUSD duly found buyers around 1.1620 where I've been warning of decent interest and has bounced again to post 1.1671. Buyers around 1.1620 still then 1.1600, 1.1580 and 1.1550. Sellers initially around 1.1680 still then 1.1700 and 1.1730.

USDJPY has found demand in the dips again but similarly sellers above 111.00 with natural supply and safe-haven Yen demand never far away. Buyers now lurking down around 110.80 then 110.50 again,110.30 and 110.00. Sellers around 111.20 still then 111.35 and 111.50. USDCHF has dipped a little but traded tightly amid the general market uncertainty with EURCHF steady still.

Aussie, NZ and Canadian $ have all found a few buyers again on firmer commodity prices. AUDUSD now has bids around 0.7350 and 0.7320 after holding 0.7300 where a large barrier option interest is providing support. Sellers still around 0.7400 and then 0.7420 again. USDCAD buyers at 1.3130 still then 1.3100. Sellers around 1.3200 then 1.3220 and 1.3260.

Fickle and fragile markets prevailing again so get your orders in to take full advantage of the  moves.

England take on Colombia tonight amid the most intriguing World Cup for many a year. Dare we dream? Of course we do. Wimbledon now underway too. What's not to like for sports fans?!

Have a good day out there one and all.

Interbank Rate 08.55 BST GBPUSD   1.3178 EURUSD   1.1670 EURGBP   0.8855 GBPEUR   1.1291 USDJPY   110.94 USDCAD   1.3176 USDCHF   0.9921 GBPAUD   1.7853 GBPCAD   1.7329 GBPCHF   1.3050 GBPZAR   18.2251 GBPHKD   10.1983 EURHKD   9.0178

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