Signs of life for the Australian Dollar to be snubbed out by Governor Yellen?

Jim Devonport

Compass Global Markets

AUDUSD: Up 100+ points as the Chinese Government confirmed it would buy into the SSE, whilst US Consumer Sentiment dropped. Focus is on tonight’s FOMC meeting and any confirmation that interest rates are to be tightened come September. Signs of a delay and the Aussie should break, however for today we see these levels being sold into as we hit technical resistance that acted as support on the way down. AUDEUR: A solid recovery here as well, off forecast support lows to correct Monday’s losses. However looking at the charts and it appears these highs may be it for short term Euro buyers. AUDGBP: Also reclaimed Mondays move, despite solid UK economic data. There are a couple of second tier numbers this evening, however markets are in a holding pattern ahead of the US session so should trade sideways if not lower today. AUDNZD: Drifted lower still and had one sharp move as a result of a less dovish than expected speech by RBNZ Governor Wheeler. There is no NZ data released until Friday so one should expect a recovery....

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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