Currency markets in limbo ahead of the FOMC
Jim Devonport
Compass Global Markets
AUDUSD: RBA's minutes gave no serious suggestion of a cut, so that and the recent Chinese data ensured the A$ held firm. The Chinese figures and low US unemployment have however kept the market split on an FOMC hike. We therefore remain in the technical flag formation. AUDEUR: Tested support levels as Noyer suggested there is no need to add to QE. However the ECB may start to pave the way tomorrow. On the charts support holds and should drift higher. AUDGBP: Took back some of its recent losses as the market continues to digest the weak inflation figures. Carney didn't mention interest rates last night, but is expected to do so tomorrow and which is when we also have UK Retail Sales data. We should hold around this morning’s opening levels for the next 36 hours. AUDNZD: As forecast yesterday, the Tasman Cross has rallied over a cent to a 1 week high. The move came as NZ dairy prices fell and as the technical support held. We’d expect the trend to continue. READ OUR FULL REPORT HERE: (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
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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