A Christmas hike's a comin'

Jim Devonport

Compass Global Markets

AUDUSD: Sunk just shy of 150 points upon release of a strong NFP, pushing unemployment down to just 5% and perhaps forcing the FOMC’s hand. Technically we have held the downward channel and the only chance of a break higher may come with a solid domestic employment number on Thursday. AUDEUR: Spent the 3rd consecutive day trading along the 50% Fibonacci retracement of the 6 month sell off. We should maintain the range at least until Wednesday night’s speech by ECB Chairman Draghi. AUDGBP: Surprised to the upside as late comers continued to sell out of Sterling. Nonetheless technical resistance held firm, as forecast, and the pair swiftly retraced back into the downward channel. UK Unemployment is our only focus this week, but not expected to shock, so we see lower levels to come. AUDNZD: Held a 60 point range to close flat as both currencies traded in a similar fashion upon release of the US data. The only NZ focus this week is the RBNZ Financial Stability report and a speech by the central bank Governor. FULL REPORT (VIEW LINK)


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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