Our "line in the sand" held, but can we break the range? Perhaps the FOMC's Lockhart will tell us.
Jim Devonport
Compass Global Markets
AUDUSD: Opens higher on the more neutral RBA stance, US Jobs disappointed and the weekends mixed Chinese numbers. It will therefore be interesting to see what FOMC Member Lockhart says this evening as he was the one to suggest a delay to a rate hike last week. We do need to take out last week’s highs for further upside as support now appears to be firming. AUDEUR: Edged slightly higher on the back of the RBA statement and nothing of interest out of Europe. On the charts we appear set for the 50% retracement of the selloff siting 150 points above. AUDGBP: The Pound continues to give up ground here as there was no supporting UK data to take on board and in fact is none until the mid week unemployment numbers. Having hit resistance we should sit here for the next couple of days. AUDNZD: Closed the week on the up as sentiment is still very much against the Kiwi Dollar and we so no reason to sway from our view of higher levels. (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
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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