Domestic employment and Chinese inflation send the Aussie higher, but we're in limbo ahead of the Fed

Jim Devonport

Forex Worldwide

AUDUSD: Bounced again and has held up at the highs as employment data and Chinese Inflation numbers both beat expectations. There are a couple of US releases this evening, however we don’t expect the market to move much ahead of the weekend. Technically we continue to trade either side of the 50% retracement until next week. AUDEUR: Retraced higher to hit levels seen earlier in the week.The market is unwilling to take the pair outside the comfort zone ahead of the weekends Fin Min meetings. Technically our 3 week old downward trend line resistance should hold. AUDGBP: Rallied to week long highs on the local data releases but fell away as the BoE said the Chinese economic events have not had an impact on their thinking that a rate hike is likely. We'll hold the 3 week range. AUDNZD: 3 cents higher than Wednesday as the RBNZ suggested further interest rate cuts are on the cards. Trend is higher but do expect a small correction lower as NZD buyers jump on these highs. CALL TO DISCUSS YOUR CURRENCY EXPOSURE (VIEW LINK)

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Jim Devonport
Jim Devonport
Forex Worldwide

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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