Aussie following equities around as we Await Yellen and the NFP

Jim Devonport

Compass Global Markets

AUDUSD: Dipped then bounced in sympathy with Asian then US equities. The move ignored a pick-up in US Consumer Confidence as the market once again held the range ahead of Yellen’s speech tomorrow and Fridays NFP. Today’s data may see brief spikes, but support holds 50 points below and look to test resistance 135 points above. AUDEUR: Briefly traded outside the 5 week range, but soon bought into and closed flat on the day. The Euro has benefited from weaker equities, but poor data has held it back from further gains. The status quo should continue. AUDGBP: Reversed recent losses as Carney seemed more focused on climate change than interest rates. Current Account data this evening is expected to show a slight improvement. Technically in an upward channel with resistance 1% above a healthy target to sell at. AUDNZD: Bouncing along along the bottom. However we are set for an exciting end to the week with Asian data set to come that could well set us on the way for medium term direction. As always we favour the upside. (VIEW LINK)

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Jim Devonport
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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