Markets to take a breather ahead of Yellen's speech on Friday

Jim Devonport

Compass Global Markets

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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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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