A HUGE CURRENCY MARKET MOVING WEEK AHEAD. BE PREPARED.
Jim Devonport
Compass Global Markets
AUD/USD: Closed at the week’s lows and we expect levels to remain here today whilst we wait for the RBA and flood of major domestic, Chinese and US data over the next few days. These numbers have the potential to really move this market, so strongly suggest placing orders at target levels. AUD/NZD: Recovering from the recent poor Australian data, whilst holding the upward channel. NZ Business Confidence is due this morning and Dairy Prices on Wednesday, so with both expected to dsiapoint the upside is favoured. We target August highs, 4 cents above. AUD/GBP: Traded flat on Friday, as both centres released weaker than expected data. Carney speaks tomorrow, followed by data from most sectors through the rest of the week. Coupled with the important local numbers we have the potential to have a sizeable move in either direction. AUD/EUR: Maintained rejection of the recent highs as the market waits for the ECB meet on Thursday, so it will be the home-grown numbers that determine direction in the meantime. Technically we sit bang on resistance of the uptrend. (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
1 topic
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...
Expertise
No areas of expertise
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...
Expertise
No areas of expertise
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