Aussie Dollar appears range bound until the Fed
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Jim Devonport
Forex Worldwide
The Australian Dollar has stayed fairly range bound against the Greenback, bouncing up from the Governor Stevens inspired sell off and as our technical support levels held. However a sizeable drop in the number of US Weekly Jobless Claims was all it took to take the pair down to the lows again. Chinese Manufacturing numbers are our only focus before the weekend and so should that come in as expected with a 5th straight month in “contraction” mode we shouldn’t see fresh lows just yet. On the charts we have tested our support level mentioned yesterday and suggest that we should hold around here until next week's FOMC. AUDEUR: Lower here as the Greeks voted to accept further austerity measures. AUDGBP: Bucking the trend as UK Retail Sales fell and Sterling suffered on new found positivity in the EU. AUDNZD: Sold off on the disappointment of just a 0.25% cut, but lower growth and further cuts are promised, so should see the uptrend return and our 1.20 target hit in due course.
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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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