Heading towards a defining next 10 days
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Jim Devonport
Forex Worldwide
AUDUSD: Chinese GDP data pushed the A$ higher, however those levels were soon sold into. The numbers were still shy of the 7% goal. RBA minutes are due this morning and we look for a more neutral tone. Further focus is on next week’s FOMC, which should mean price action will become muted and hold this 0.7250 area. AUDEUR: Failed to hold onto highs as the market is unwilling to push away ahead of Thursday's ECB and any signs of a possible increase to QE. Those buying Euro’s may want to hold fire for a couple of days. AUDGBP: Fell for the 4th day out of 6 in reaction to comments that an interest rate hike could come sooner rather than later. Carney speaks twice this week, but is not expected to mention interest rates until Thursday. We'll hold around here until being 6 week old trend line support. AUDNZD: Bounced but soon reversed the move. Dairy price data comes tonight. Technically we trade at the 50% retracement of the 6 month range, so time for a reversal higher? (VIEW LINK)
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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
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Jim Devonport
Manager
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...
Expertise
No areas of expertise
Jim Devonport
Manager
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...
Expertise
No areas of expertise
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