Ranges to hold until Thursday morning
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Jim Devonport
Forex Worldwide
AUDUSD: Rallied on news the PBoC cut lending rates, however as has been the markets want recently any strength was soon sold into. Australian inflation and Thursday's FOMC statement are the main focus, so should ensure the range is held until then. AUDEUR: The ECB’s comments on QE has this pair holding at fresh 2 month highs. The Ifo survey is the only major data release of the week so we cannot see any reason for the Euro to claw back recent losses and target 100 points of upside as a minimum. AUDGBP: Sterling weakened in line with the Euro sell off to touch resistance levels that have held over the last fortnight. Tuesday’s GDP figures are the only data release of note, so with the FOMC looming we shouldn’t see the range broken. Technically the near term upward corrective channel is still in play. AUDNZD: The Chinese rate cut gave the Aussie a 140 point boost and we closed bang on the middle of the week long range. We’ll likely hold these levels until Thursdays RBNZ. FULL REPORT: (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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1 topic
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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