AUD remains range bound and may even stay that way until Friday
Jim Devonport
Compass Global Markets
AUDUSD: The pair steadily dropped throughout Friday (month end) but rallied 130+ points within an hour upon record low US Employment inflation. Although a second tier number, the thin market saw it as a sign the Fed may hold come September. On the charts and as forecast both sides of the recent range were tested but held firm. We see that continuing until tomorrows RBA meet and potentially until Fridays all important US Non-Farm Payrolls. AUDEUR: Pushed back on Friday as the market had its end of week correction and as the Euro understandably benefited the most from USD weakness. Should trend-line resistance break, there is size-able upside. AUDGBP: A hugely important week to come for the UK that should give us a medium to long term picture of where we are headed. Forecasting anything past Thursday is pure folly. AUDNZD: An 80+ point jump Friday as NZ Business Confidence had its worst read since March 2009. NZ Dairy Prices and Unemployment are midweek. With both expected to weaken, there is no reason to veer from our favoured move higher.
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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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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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