Aussie weighed down ahead of NFP and G20

Jim Devonport

Compass Global Markets

AUDUSD: Continues to be weighed down by mixed local data and as the US numbers show glimpses of improvement. Key support levels around here are holding due to the Chinese holiday and as we head towards theNFP as well as the G20. With a thin market and huge risk events due the potential for a sizeable dip or correction higher has increased. AUDEUR: Aussie has strengthened here as the ECB stated they will keep the QE measures for at least another year and Draghi’s speech was less than hawkish. With no data from either center today we’d suggest this move gets gradually reversed as we head towards the weekend. AUDGBP: A flat close for this pair as both suffer at the hands of a resilient USD. We’d suggest this tight range should hold until next week’s Australian Unemployment data and the BoE meet. AUDNZD: Dipped as the AUD suffers due to its mixed economic data releases and as the sudden upturn in milk prices has the market re-thinking their expectation of a ½% cut at next week’s RBNZ meet. (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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