Price action to pick up from today
Jim Devonport
Compass Global Markets
AUDUSD: Traded a tight 40 cent range as the US holiday ensured the market was reluctant to take this pair any further south following the NFP. Price action should pick up today with domestic Business Confidence and then the release of Chinese Trade Balance data. Both are expected to improve for some support and recovery towards 0.70 cents. AUDEUR: Positive second tier Australian numbers kept the market from pushing this pair any further. With no European market moving data this week we’ll look locally for direction and favour a small and short term correction higher. AUDGBP: The only pair of the majors in which the Aussie lost ground. Sterling bounced back from its 2.5 cent losses against the Greenback but with no UK data today we could well see the Aussie bounce here as well. AUDNZD: Pushed higher on a double dose of positive Aussie economic releases and as the market prepares for a RBNZ interest rate cut. Our short term target is 1.12 prior to the NZ central bank meet. Get in touch to discuss your currency exposure. (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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