Plenty of market moving data and fed speak to come yet

Jim Devonport

Compass Global Markets

AUDUSD: Positive local data pushed the A$ higher, but it hit firm technical resistance of the channel. Impressive US economic data and a speech by FOMC Chief Yellen suggesting a Christmas interest rate hike is on the cards saw this pair sink again. RBA Governor Stevens speaks this morning and we have more Fed chatter this evening. The downward channel should continue to hold. AUDEUR: Continues to impress as the Euro now sits firmly below 1.10 against the US$. The European Commission release their economic forecasts this evening which should keep us trading around the 50% retracement of the 6 month sell off for now. AUDGBP: Sterling strengthened yesterday as Services data impressed and we wait for the BoE tonight. There has been reports suggesting the BoE might raise interest rates before their US counterparts and this evening’s communique should confirm or deny that. AUDNZD: A 3rd solid day of gains to hit 3 week highs as NZ Unemployment ticked higher. We should have a minimum 100 points of upside still to come in the short term. FULL REPORT: (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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