Currency war averted. Eyes back on US numbers and the Fed

Jim Devonport

Compass Global Markets

AUDUSD: With the CNY weakening for a third day in a row there was understandable nervousness, however the PBoC is working to restore order and the volatility was only slight yesterday. The real news was a solid US Retail Sales number and although this may have pushed the chances of a September rate hike up, the range was held firm as forecast. Numbers due today aren’t expected to force a break as we wait for more important data next week. AUDEUR: Another day of no news from the European continent or locally has kept this pair trading tight. We need a break of the downward channel to determine direction. AUDGBP: The Pound fought back on solid house price data and as importers took advantage. However the move was only small as the market does not want to get ahead of itself with next weeks inflation and retail sales releases to come. AUDNZD: Today's NZ Retail Sales are expected to take a dive and should see further upside and a break out of this week long downward channel. (VIEW LINK)


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...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.