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  • Mike Paterson

Risk sentiment turning sour again and the Euro retreats on softer data

Thursday 18 April 2019

A mixed bag as we head into the Easter week-end break for many markets. Weaker Eurozone PMI data has seen the Euro retreat this morning with Yen buying also notable with EURJPY and GBPJPY helping USDJPY to cap once again. The Pound continues on the back foot as we wait on the Brexit bs to resume next week and with oil and equities generally lower too we've seen some risk-off sentiment return.


GBPUSD has now fallen through 1.3020-30 to post lows of 1.3011 before rallying to 1.3032 on better UK retail sales data for March while EURGBP has fallen now on the Euro supply post-PMIs.


I remain GBP bearish overall and continue to rally-sell as my preferred strategy and buy back in the dips amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines. No change to this paragraph any time soon.


EURUSD has finally given up on 1.1300 and fallen to lows of 1.1243 post-PMIs but good buying interest down at 1.1225 and 1.1200. USDJPY looks underpinned into 111.65 but rally sellers still poised around 112.00 as we've been seeing again. USDCHF remains underpinned helped by the EURUSD retreat and EURCHF continues to find dip support. with the SNB ever-watchful.


AUDUSD remains underpinned around 0.7150 but sellers around 0.7200 prevailing atm. Large options rolling off today at 0.7175. USDCAD has moved higher again helped by softer oil prices to weaken the Canadian $.


Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.


I wish you good trading and I hope my updates/tweets are helping.Let's continue to be careful out there and don't get greedy. I will update tomorrow before I head away to Walsall for football amid the long Easter week-end and then hopefully post something on Monday


Have a good day out out there one and all.


Interbank Rate 08.40 BST

GBPUSD   1.3021

EURUSD   1.1257

EURGBP   0.8646

GBPEUR   1.1564

GBPAUD   1.8170

GBPCAD   1.7401

GBPZAR   18.3170

GBPHKD   10.0952

USDJPY   111.80

USDZAR   14.0742

EURJPY   125.82

GBPJPY   145.52

AUDUSD   0.7165

EURCHF   1.1373

EURHKD   8.7298

USDCAD   1.3368

USDCHF   1.0101


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