A dovish Yellen the only hope for upside in the Aussie
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Jim Devonport
Forex Worldwide
AUDUSD: Dropped again as Chinese Manufacturing hit a 6.5 year low. Sentiment is negative against the Aussie at the moment and we are struggling to find where any upside is to come from, except should the Fed’s Yellen hint at a 2016 rate hike. This psychological 0.70 cents level should hold for today. AUDEUR: Back to the bottom of the range as ECB President Draghi said he’d rather wait and see before considering further stimulus. French and German Manufacturing both grew last month adding to the push. German Ifo numbers are expected to be week so should ensure we hold the range. AUDGBP: Sterling gained here for the 4th session in a row, even as chances of a UK rate hike diminish. No UK data until next week, however trend line support from mid-April is hit and should hold. AUDNZD: Broken the channel on Chinese data and positive Fonterra results. NZ Trade Balance was poor this morning, so we should bounce from these oversold levels. GET IN TOUCH TO DISCUSS YOUR CURRENCY EXPOSURE (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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1 topic
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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