Chinese concerns our focus until Thursday

Jim Devonport

Compass Global Markets

AUDUSD: Dipped as the market picked the positives out of mixed US data and as we reassess Chinese growth. US Consumer Confidence is due this evening but there is nothing else to concentrate on until Thursday. On the charts we sit at technical support so expect a recovery throughout our session. AUDEUR: Pushed lower as the market favours the common currency at the moment. Spanish and German Inflation data comes this evening, but of passing interest. Technically support will hold meaning exporters should call this morning. AUDGBP: Down slightly, but only so as to correct Fridays gains. BoE's Carney speaks this evening so we’ll look for further confirmation of interest rates being held. The charts year-long resistance caps and we cannot see any reason for the upside to be broken until this time next week. AUDNZD: Traded higher as the market has completed its readjustment of the NZ economy and as we filled the gap in the charts created by the recent dovish RBNZ meet. There is no NZ data due until tomorrow so we see the trend continuing. (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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