Fed adds fuel to belief in a delay to rate hikes this year

Jim Devonport

Compass Global Markets

AUDUSD: Rallied up from the lower end of the range as US Inflation data fell below forecast and the FOMC were less hawkish than expected, suggesting no rate hike from them this year. We have no market moving data due for at least a week so see no reason for a break of the USD 2 cent range. AUDEUR: The Euro has strengthened as EU policy makers agreed to the first tranche of Greek bailout funds. There is nothing of note from Europe expected today, however manufacturing numbers come tomorrow so we should sit around here until then. AUDGBP: A lack of data from either center ensured this pair held at recent lows. UK Retail Sales figures are set for release this evening and expected to show a pick up there so the downward trend should continue. AUDNZD: Tried to make a recovery, however the market is happy to hold around here following the pick-up in dairy prices. We favour a return to levels seen at the start of the week as NZ exporters take advantage of this correction. (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...

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