Is the last week the Aussie holds the 2 cent range?
Jim Devonport
Compass Global Markets
AUDUSD: The slowdown in Chinese Manufacturing hit at the fastest rate in 6 years, but with no positives out of the States we closed virtually unchanged. There is not much due on the economic calendar before the market turns to Jackson Hole so have nothing that should spark a concerted break outside the current 2 cent range. AUDEUR: Mixed Manufacturing numbers and Greece set for their 5th election in 6 years cant' see this move to continue much longer. German Business Climate numbers come tomorrow and could be the spark. On the charts we are at the bottom of the downward channel, also suggesting a correction soon. AUDGBP: Thoughts of an interest rate hike from the BoE are increasing, but with just UK GDP data due later in the week we cannot see much further downside for the rest of the month. AUDNZD: NZ Inflation Expectations then Trade Balance numbers due and as we have hit the bottom of the downward channel we can see plenty of scope for a push back against the short term downward trend. (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
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
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