Aussie bouyed but held up here ahead of the FOMC
Jim Devonport
Compass Global Markets
AUDUSD: Happy to remain bouyed as the RBA minutes were not as dovish as feared and US Retail Sales disappointed. The market is unwilling to take price action too far away from the norm, ahead of the US FOMC meet on Friday morning. Tonight’s US Inflation is our focus in the meantime. AUDEUR: At the top of the 2 week old and 150 point range. News that German Consumer Sentiment disappointed analysts’ expectations wasn’t surprising and not enough to push us through. EU inflation is due this evening but shouldn’t be enough to force a break either. AUDGBP: Inflation at 0.0% hardly inspired so we recovered to push towards the top of the recent upward corrective channel. UK Unemployment and Earnings data comes this evening which should bring lower levels. AUDNZD: A hat trick of positive reads for the NZ Global Dairy Price resulted in a shallow sell off for this pair. Current Account and GDP numbers will give short term guidance. Technically 3 month long resistance cap’s and threatens to force a fill of the RBNZ gap. (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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