A busy day ahead but will we get any movement??

Jim Devonport

Compass Global Markets

AUDUSD: A more subdued start to the week, as one would expect with a bank holiday and ahead of a data filled day today. Today’s major data releases and policy announcement by the RBA have the potential to force a break out of the current 1 cent range, however any move is likely to be tempered as we wait for the US jobs numbers on Friday. AUDEUR: Hardly any movement here despite a slight pickup in European Manufacturing. On the charts we'll look for a test of the gradual upward channel. AUDGBP: Also held in tight price action, despite UK Manufacturing showing a 27th straight month of growth. Construction data is due this evening and expected to follow the same pattern, but result in a more exaggerated move as the domestic data would have passed. The trend is still firmly down. AUDNZD: The bank holiday ensured 1 way traffic and pushed the cross lower. Today’s domestic events and tonight's NZ Dairy Price, (plus tomorrow's NZ Employment), figures are set to make a volatile 24 hours. Support at 1.10 should hold.


Jim Devonport
Jim Devonport
Compass Global Markets

Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...

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