Back to square one
Jim Devonport
Compass Global Markets
AUDUSD: The PBoC shocked the market with its largest ever devaluation yesterday, dragging the Aussie lower. Domestically Business Confidence took a hit and ensured the local unit kept at the day’s lows. Chinese Industrial Production is our main focus, but unlikely to see a test either side of the range. AUDEUR: News that a Greek bail out deal has virtually been agreed to and the local developments here have pushed this pair back to lows seen at the end of July. The Greek's are set to rubber stamp the bailout tonight. Technically we have fallen back into the downward trend and may well stay there. AUDGBP: The Chinese news pushed this pair back to 1 week lows and we spent the rest of the day down there. UK Unemployment numbers this evening are key to deciding whether we retrace or push on. AUDNZD: Dipped as the Yuan’s devaluation will be felt by Australia more, however the move was slight as both tanked versus the Greenback. With no NZ data due until Friday we expect to hold around these levels. (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
1 topic
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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