AUS$ held in the flag until tomorrows CPI and Thursdays FOMC
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Jim Devonport
Forex Worldwide
AUDUSD: With no fresh data the A$ ground higher, held within our flag formation and with nothing due today either we should hold firm. There is a chance of a break with the data that’s due in 24 hours, but we do not foresee a large move until we hear from the FOMC. AUDEUR: Did have a look higher still although the move was reversed with the Ifo. There is no major EU data set to come today so we should see these levels held and perhaps a test higher again. We see another 100 points of upside until initial resistance levels. AUDGBP: UK GDP data is due this evening and should remain in positive territory, therefore capping any sizeable gains here. As per yesterday’s report, technically the near term upward corrective channel is still in play so may give GBP buyers another opportunity before the major downward trend continues. AUDNZD: Closed flat on the day. Today’s NZ Trade Balance will be of interest but tomorrows Australian CPI and Thursdays RBNZ meet will be the more important. 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
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Jim Devonport
Manager
Forex Worldwide
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
Manager
Forex Worldwide
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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