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)
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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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