Friday 2 April 2021
Easter holidays begin today and that means UK, European and US markets all shut among many others but we will have the release of the latest US NFP data at 12.30 GMT. Yesterday saw some JPY supply again amid firmer risk sentiment as equities remain underpinned and the Pound continues to find support. Oil in focus too as the OPEC+ meeting reportedly agreed on a staggered output rise this year.
GBPUSD: Enjoyed the GBPJPY demand and EURGBP selling to pop up above 1.3800 again after holding 1.3750 and finally took out those 1.3820 offers amid general USD supply.Next resistance 1.3850 with support 1..3780-00 now.
EURGBP: Finally broke down through the strong support/barrier option at 0.8500 after failing lower in the rallies a couple of times. A hold of 0.8490 ahead of those 0.8485 bids/tech support has seen a rally but once again failing above 0.8520 and remains on the back foot.
GBPJPY: Once again enjoyed the JPY supply and GBPUSD rally yesterday to take out good resistance/offers at 152.80-00 but ran into sellers at 153.20 as core pairs ran out of puff and USDJPY slid back into 110.40. Base forming at 152.60-80 now though
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.
EURUSD: A good hold of 1.1730 amid some general USD supply but 1.1720 but struggling to get back above 1.1780 as the Euro still remains fragile amid COVID/vaccine concerns.USDJPY: Sellers prevailing at 110.80-85 again. I still prefer to sell rallies overall but risk-on JPY supply still notable to help support.EURJPY: Finds itself underpinned at 129.80 still and rising amid core pair dip demand and firmer risk tones but strrggling to crack through next line of offers/res at 130.30.USDCHF: Still finding a support line at 0.9400 after the retreat from 0.9470 amid the EURUSD rally and firmer risk sentiment but EURCHF holding 1.1080 so far with the SNB ever watchful and ready to help.EURCHF: 1.1080 becoming support now after the retreat from 1.1100+ as EURUSD finds dip demand too but jury still out on the Euro overall.
AUDUSD: Holding 0.7580 again now and accelerating a rally to 0.7635 amid the general USD supply and AUDJPY demand.
USDCAD: Found itself in retreat to 1.2530 from 1.2590 this time amid the general USD selling once those 1.2600-10 options rolled off but finding some support on the OPEC output increase proposals and some USD demand in Asia
A crucial weekend for the mighty Shrimpers of Southend United with games tomorrow and Tuesday but also other key games for teams around us. We'll keep believing.
Let's continue to be careful out there in all things. Staying safe must be our main priority still. Enjoy the long week-end everyone.
Interbank rates: 08.18 BST
GBPUSD 1.3837
EURUSD 1.1776
EURGBP 0.8508
GBPEUR 1.1751
GBPAUD 1.8169
GBPCAD 1.7374
GBPJPY 152.93
GBPZAR 20.2345
GBPHKD 10.7278
USDJPY 110.50
USDZAR 14.6243
EURJPY 130.13
EURCHF 1.1086
EURHKD 9.1293
AUDUSD 0.7615
USDCAD 1.2555
USDCHF 0.9415
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