All eyes on cup day
Jim Devonport
Compass Global Markets
AUDUSD: At 3 week lows, hugging the bottom of the downward channel as the market is starting to expect an interest rate cut on cup day. There is no data of note due until next week, so we’ll continue to hold around for today. On the charts we have targets set for next week 130 points above and below the current levels. AUDEUR: Opens at 1 week lows once again as the common currency recovered recent losses and figures out of Germany weren’t too bad. There is no data from the EU until next Wednesday’s speech by ECB President Draghi, so direction will be determined locally. AUDGBP: Broke the short term upward channel, as forecast, and now appears set to continue on its way lower. It’s a big week for UK data next week and will give us a much clearer picture on the current state of the economy. We’ll stick with our forecast of £0.40pence. AUDNZD: We hold support levels and so should continue to do so until 2.30pm (Syd) next Tuesday at least. 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
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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