Risk sentiment still fragile as another week opens
Monday 10 February 2020
oronavirus concerns still nagging away at risk sentiment and we've seen some ongoing safe-haven plays again but to a lesser degree. USD demand still notable overall but sellers still poised.
GBPUSD has fallen further to post 1.2872 and remains on the back foot overall but finding some dip demand as I type.EURGBP has failed above 0.8500 but since finding some demand around 0.8480. GBPJPY has fallen further to post 141.22 amid the general GBP weakness and softer risk.
I stay poised to sell GBP rallies and buy back in the dips as ever.Still ranging overall. Rinse n repeat.
EURUSD remains undermined still and now broken down to fresh lows of 1.0942 amid the general USD demand, weaker data and some EURGBP/EURJPY/EURCHF supply.USDJPY remains underpinned at 109.50 but Yen buyers still in evidence. EURJPY also tempered by a soggy EURUSD and ongoing softer risk sentiment.USDCHF continues to find support but tempered again by some general CHF supply with EURCHF range bound amid the softer risk plays.
AUDUSD has fallen back further to test 0.6650 helped by AUDJPY supply again and coronavirus concerns.USDCAD remains tightly bound after Friday's rally amid the general USD demand and some CADJPY supply returning but equally sellers poised.
Fickle Forex markets ever prevailing so be ready to jump on moves with your entry/exit levels and orders as always.
A disappointing result for Southend at Blackpool on Saturday where a point would have been a deserved outcome but once again poor goalkeeping options and missed chances our undoing. Yesterday's drive home amid Storm Ciara was interesting!
Have a good day/week out there one and all.
Interbank rates: 08.40 GMT