Big week starts now

Jim Devonport

Compass Global Markets

AUDUSD: Bounced off Fridays lows as the market prefered the currency in more neutral territory ahead of the RBA meet today and the plethora of economic data due this week. On the charts our target sits 160 points higher, being the 50% retracement of sell off seen since mid June. AUDEUR: Hit fresh 4 month highs as the's market prepares for Thursday's ECB meet. Direction for this Aussie cross will be dictated locally and there seems no reason why the upward trend should not continue. AUDGBP: Aussie strengthened here as well, as the short term sell off was corrected. BoE Governor Carney speaks and UK Manufacturing data this evening will take precendence so technically we could well see a break of the 4 month highs and another 1% above. AUDNZD: Upbeat NZ Business Confidence numbers pushed the Tasman cross back to the bottom of the range. Todays Australian data should see that reversed and tomorrows NZ Dairy Price release will be key to see if the upward trend can break the highs, that have capped since late September. (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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