US Dollar enjoys latest jobs and wages report.
Monday 5 April 2021
Easter holidays continue today and that means UK and European markets shut along with Canada but the US reopens so we can expect thin liquidity until then which can work both ways, either all quiet or scrappy volatility.
Friday's positive US jobs report has helped keep some demand in the Greenback with US treasury yields still underpinned but all ranging still. Look out for news on rising tensions over Ukraine.
Later today UK PM Johnson delivers the latest news on easing of lockdown and whilst we can expect some cautious tones there is nothing to suggest that the programme has been derailed for the moment. That will help to underpin the Pound whie at same time keeping the Euro on the back foot amid its own COVID issues.
GBPUSD: Ranging still 1.3800-50 for the moment. Underpinned by GBPJPY demand and EURGBP selling still.EURGBP: Testing good support at 0.8480-85 as I type after another weak rally and the COVID divergence in UK/EU evident still. Looking weak again. GBPJPY: Ranging still but underpinned by core pair dip demand although sellers remain poised.
I remain a GBP rally seller across the pairs but still not getting greedy on the retreats. Good two-way pips to be had for the moment still.
EURUSD: Capping at 1.1770 now but still expected to find demand into 1.1700-10. USDJPY: Sellers prevailing into 110.80 again. Risk-on JPY supply still notable to help support.EURJPY: Finds itself underpinned at 129.80 for the moment but struggling again to crack through next line of offers/res at 130.30.USDCHF: Now finding support at 0.9415 amid the firmer USD tones and EURUSD retreat with EURCHF holding 1.1060 so far with the SNB ever watchful and ready to help.EURCHF: 1.1080 broken as jury still concerned on the Euro overall.
AUDUSD: Holding 0.7600 now after capping at 0.7640 amid the general USD and AUDJPY demand. Poised to re-sell again.
USDCAD: Still holding 1.2530 but now retreating from 1.2590 again as little USD selling shows as I finish this report.
Southend United dismal again on Saturday. Time definitiely running out now sadly.
Let's continue to be careful out there in all things. Staying safe must be our main priority still.
Interbank rates: 08.28 BST