Search
  • Mike Paterson

Ranging again with all eyes on the Fed

Wednesday 19 December 2018

Ranging again with all eyes on the Fed

Yep, move over Mrs May it's the US Federal Reserve that's going to hog your headline space today and with good reason.The US Fed may be widely expected to hike interest rates but as I've said already this week it's by no means certain given recent data and comments from both Trump and the Fed itself. Markets have factored in a hike for a while now so the risk is to the other side and the US Dollar softness is reflecting potential dovish tones next year if not today.

GBPUSD rallied to test the strong resistance/sell interest I've been highlighting at 1.2700 but since found good support at 1.2630. I remain GBP bearish overall and happy to jump on rallies then buy back in the dips.EURGBP remains underpinned still with buy interest now building at 0.8980 and we've been up to 0.9015 (GBPEUR down to 1.1092)

EURUSD has rallied again on the USD supply to post 1.1406 but sellers still poised while USDJPY has fallen further to post 112.20 amid the general softer USD sentiment as we wait on the Fed.USDCHF has fallen again too but found a few buyers again into 0.9900 with EURCHF also finding dip demand again.

AUDUSD has found support around 0.7170 yet again but finding sellers around 0.7200 while USDCAD has also found itself heading higher again with the softer US$ being overtaken now by continuing falling oil prices.

Fickle Forex markets ever prevailing so be ready with your orders if you business to execute and don't get greedy.

Have a good day out there one and all.

Interbank Rate 08.14 GMT GBPUSD   1.2658 EURUSD   1.1368 EURGBP   0.8981 GBPEUR   1.1133 USDJPY   112.50 USDCAD   1.3401 USDCHF   0.9916 GBPAUD   1.7586 GBPCAD   1.6963 GBPCHF   1.2550 GBPHKD   9.8137 EURHKD   8.8150


0 views0 comments

© 2018 by MSP Currency Services

  • LinkedIn Social Icon
  • Twitter Social Icon
  • Google+ Social Icon