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