Markets to take a breather ahead of Yellen's speech on Friday
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Jim Devonport
Forex Worldwide
AUDUSD: The FOMC’s inaction has the market forecasting there’ll now be a Christmas hike; and so reluctant to take this pair too high ahead of Fed Chairwoman Yellens’ speech on Friday morning. Technically we need to break previous support now resistance levels to target 0.75c. AUDEUR: Up to 1 month highs as the market waits on the 5th Greek election in 6 years. French and German Manufacturing come on Wednesday, with German Ifo Business Climate Survey on Thursday. With no domestic data, then said highs should hold until then, at least. AUDGBP: Rejected the recent lows, being the 50% retracement of the month long range. There is no major UK data due at all this week, so we do not expect a break.. AUDNZD: Closed the day 1 cent off its late Asian session highs as importers jumped on levels that have failed to break in over 2 months, being the 50% retracement of the selloff seen since mid-March. NZ Trade Balance numbers are expected to be weaker on Wednesday and so should at least keep us range bound. (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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