Aussie holds support ahead of a busy end of week (and weekend)

Jim Devonport

Compass Global Markets

AUDUSD: Unemployment was mixed as rate hit 6.3%; however the economy added 38,500 jobs last month. This evenings NFP data is key and should determine whether the FOMC tighten next month. We have held forecast support, but with with a huge few days to come we could see a sizeable gap at Mondays open. Call us to place orders. AUDEUR: A pick up in German Manufacturing has pushed us a tad higher. With no data set to come until next week, we expect the range to hold with an upward bias. AUDGBP: All eyes were on the BoE and the number of votes for a hike. The market was disappointed with only 1 out of 9 and reversed the last two session’s losses. Opening just below the 50% retracement of the 5 week long range we expect that to hold for the downtrend to continue. AUDNZD: Healthy correction lower as NZ exporters took advantage of their weaker currency. No NZ data today so focus will be on the RBA and should therefore mean a resumption of the uptrend. (VIEW LINK)


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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