A$ clings on ahead of the FOMC
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Jim Devonport
Forex Worldwide
AUDUSD: Fell from recent highs on Santos, Business Confidence, an ANZ commodities report and a perceived 70% chance of a rate cut by Q1’16. However the lows were bought into and we continue to hover waiting for the FOMC. AUDEUR: President Draghi was decidedly dovish and said they would revisit the stimulus levels at the next meeting. We have pushed up through technical resistance that has held since April and appear set on the way to our target that now sits 100 points above. AUDGBP: Retail Sales grew at their fastest rate in 2 years, however the prior months read was revised sharply lower and so negated any gains for the Pound. In fact with negative inflation and the prospect of further QE in Europe, Sterling did take a knock overnight but sits well below last week’s highs. AUDNZD: The A$ negativity detailed above gave reason for the cross to retrace to 5 month lows. There is no NZ data due until next week and with a bank holiday on Monday we see a recovery throughout today. FULL REPORT: (VIEW LINK)
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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 travelling between the Australian and New Zealand offices, Jim’s primary aim is to assist business and high net worth clients on either side of the Tasman with their international money transfers and to effectively manage their foreign exchange risk. Jim happily does this with two main beliefs; the first is to not trying to make money from the financial markets, but protecting capital exposure by actively negating adverse market moves so thereby protecting your bottom line. The second is the use of a solid mix of spot and forward contracts, along with currency options when suitable, to help to create a watertight hedging strategy.
Jim is always glad to offer his guidance in any area of foreign exchange, or the financial markets as a whole, and welcomes the chance to meet with businesses or individuals for a brief chat or more detailed discussion.
Jim Devonport
E: jim@compassmarkets.com
T: 02 8039 1485
M: 0415 066 468
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Jim Devonport
Manager
Forex Worldwide
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...
Expertise
No areas of expertise
Jim Devonport
Manager
Forex Worldwide
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...
Expertise
No areas of expertise
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