A$ on the move

Jim Devonport

Compass Global Markets

AUD/USD: Pushed higher still as the RBA kept interest rates on hold and released a more hawkish statement than expected. The move ignored weaker Chinese Manufacturing and we now turn to speeches to be given by Stevens and Yellen over the next 24 hours. Technically our target now sits just 50 points away. AUD/NZD: Traded flat as both centers released positive data, with NZ dairy price’s rebounding after 3 consecutive falls. There is no more NZ data due, so direction will come from this side of the Tasman and should see a push higher. AUD/GBP: A second day of sizeable gains as the market readjusts their recent optimism over the UK economy. UK Manufacturing disappointed and Construction numbers are due this evening, also expected to be weaker, therefore suggesting this run higher may still have more in it. AUD/EUR: The Aussie Dollar’s strength outweighed a 4 year low in European unemployment as the market prepares for tomorrows ECB meeting. We suggest placing orders, but do target a 2c move higher still. 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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