Aussie the only currency moving at the moment

Jim Devonport

Compass Global Markets

AUDUSD: Sold off the highs as Chinese equities dropped and on increasing chances of the FOMC hiking. Technically the flag formation has finally broken to the downside and hit support, but with no major data due, these levels should hold. AUDEUR: Fell as the Euro was kept on the sidelines ahead of the ECB meet. The market is hopeful of definitive QE comments and whether it will be added to as a way of stimulating the faltering economy. Should this happen then we’d expect a sizeable correction higher and target of 0.66 cents. AUDGBP: Carney spoke more on Europe than interest rates, however the Chinese investment into the UK has supported the Pound and seen a further pull back. Retail Sales tonight should give more support to the downward trend. AUDNZD: Yesterdays forecast 50 points of upside was hit, but the cross soon pulled back. However we cannot see a reason for a return to lower levels yet. Our short term target is now 150 points above and a more “neutral” area for this pair to be. FULL REPORT: (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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