Aussie may break support on any more negativity, prior to an expected run higher post FOMC

Jim Devonport

Compass Global Markets

AUD/USD: Fell away for the second day running, as crumbling commodity prices wreak havoc on the market. The news was compounded by Chinese imports slowed for a 13th straight month, pushing the AUD steadily lower with more downside to come this morning should Chinese CPI come in weaker. AUD/NZD: The Kiwi was able to gain some ground on the AUD over the last 24 hours, as it responded more favourably to a fall in commodity prices. Attention turns towards the RBNZ interest rate decision tomorrow. AUD/GBP: The AUD held its upward momentum despite a strong UK GDP estimate. Sterling has also suffered at the hands of a collapse in oil and we now turn to the tomorrows BOE meeting. AUD/EUR: The Aussie opens lower against the EUR as tumbling commodity prices take their toll on the AUD. Even a weak French trade balance was unable to push the AUD higher against the EUR. German trade balance is due this evening, however the direction of the pair will be set by commodity prices and Chinese CPI figures today. FULL REPORT: (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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