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  • Mike Paterson

Steady as we go again but the calm before a storm?

Still lots of noise out there in the world of global politics and trade deals but markets have been range bound still uncertain on future trends. Risk-off sentiment by and large prevailing again too reflecting that fragility. US Independence Day hols today not helping liquidity.

GBPUSD held support lines around 1.3150 and has been up to 1.3228 but failed to hold and has retreated this morning to 1.3180 as we wait on the latest key UK Service sector PMI reading at 09.30 BST. Immediate support/buying at 1.3170 then between 1.3140-50 again, 1.3120 and 1.3100.Sellers poised between 1.3220-30 still and 1.3250. Keep selling the rallies with Brexit and UK government turmoil never far from the headlines.

EURGBP has traded tightly still but testing the 0.8820-30 support again(GBPEUR resistance 1.1330-40). Buyers still between 0.8820-30, 0.8800 and 0.8785 still.Sellers now between 0.8850-60, 0.8880 then 0.8900

EURUSD has found sellers poised around 1.1680. 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 failed above 111.00 yet again but has similarly found demand in the dips again. Buyers now lurking down around 110.30 then 110.00. Sellers around 110.80, 111.00 and 111.20 still. USDCHF has dipped a little again but traded tightly amid the general market uncertainty with EURCHF steady still.

Aussie, NZ and Canadian $ have all found a few buyers and sellers again too. AUDUSD now has bids around 0.7350 and 0.7320 then 0.7300 where a large barrier option interest is providing support. Sellers now around 0.7400 and then 0.7420-25 again. USDCAD buyers at 1.3120 then 1.3100. Sellers around 1.3180 then 1.3200 and 1.3220

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

England made history versus Colombia tonight and actually won a penalty shoot-out! Dare we still dream? Of course we do. Bring on Sweden.

Have a good day out there one and all.

Interbank Rate 08.50 BST GBPUSD   1.3186 EURUSD   1.1646 EURGBP   0.8831 GBPEUR   1.1322 USDJPY   110.50 USDCAD   1.3157 USDCHF   0.9923 GBPAUD   1.7862 GBPCAD   1.7351 GBPCHF   1.3086 GBPZAR   18.0680 GBPHKD   10.22311.1322 EURHKD   9.0294


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