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  • Writer's pictureMike Paterson

It's another mixed bag as we start a busy new week

The debacle that were the G7 trade talks,this week's latest decisions from the US Fed and ECB and the Trump/Kim talks

are all in the mix as another week gets underway.

GBPUSD failed to hold below 1.3400 and has since had another look at 1.3450 helped by some GBPJPY buying interest as risk-on sentiment returns but with rallies capped by EURGBP demand.Immediate support/buying still between 1.3380-00 then 1.3350.Sell interest at 1.3450 then 1.3480-00. Keep selling those rallies for the moment but respecting the dip demand too as I've been mentioning as we continue to range-trade.

EURGBP has been up to test the 0.8800 sell interest (GBPEUR down to 1.1360) on general EUR demand. Buyers poised into 0.8750 then 0.8730 and 0.8700. Sellers around 0.8800 again then 0.8830-35. Overall the Pound is in consolidative mode.

EURUSD has rallied again to post 1.1820 with help from EURJPY,EURCHF and the EURGBP demand.Buyers now into 1.1780 and 1.1750 still with more interest into 1.1700. Sellers poised around 1.1830, 1,1850 and 1.1880-00.

USDJPY held the decent line at 109.00 that I highlighted and now some risk-on sentiment has seen Yen demand fade and take the pair back up to 110.07. Buyers now into 109.80 then 109.50. Sellers around 110.30 and 110.50 then 110.80-00. USDCHF has been back up to 0.9854 as safe-haven plays fade and helped by EURCHF climbing back up to 1.1658

The Aussie, NZ and Canadian $ have all found a bit of dip demand again as the jury remains out on commodity prices and risk-sentiment plays.AUDUSD has buyers at 0.7580 and 0.7550 then 0.7530.Sellers at 0.7630 and 0.7650. USDCAD buyers now around 1.2920 then 1.2900. Sellers around 1.3000 again and 1.3030 then 1.3050

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

Congrats to Scotland on an historic ODI cricket victory over England and to South Africa for an amazing comeback to beat England's Rugby Union team.

Have a good week out there one and all.

Interbank Rate 08.20 BST GBPUSD   1.3437 EURUSD   1.1814 EURGBP   0.8791 GBPEUR   1.1375 USDJPY   109.98 USDCAD   1.2963 USDCHF   0.9848 GBPAUD   1.7652 GBPCAD   1.7420 GBPCHF   1.3232 GBPZAR   17.4969 GBPHKD   10.4177 EURHKD   9.1584

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