Domestic employment and Chinese inflation send the Aussie higher, but we're in limbo ahead of the Fed
Jim Devonport
Compass Global Markets
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)
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
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
1 topic
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
Comments
Comments
Sign In or Join Free to comment