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)


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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