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)


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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