Steady end to the week with an eye on the RBA
Jim Devonport
Compass Global Markets
AUDUSD: Traded the range and was well supported when dropping slightly following local Building numbers . US GDP wasn’t as strong as expected and Weekly Jobless claims are on the up; seeing the Greenback give up its earlier gains as a result. Price action is fairly tight and we have been comfortably held in the week long range. We expect that to continue for today and perhaps until Tuesdays RBA meeting. But we’ll discuss that come Monday. AUDEUR: Aussie continues to correct higher from the heavy sell off. On the charts and the reverse head and shoulders pattern broke a day early, so it will be interesting to see if this upward move can continue. AUDGBP: The sizeable shift lower continues as there was no UK data to note and effect market sentiment. With the weekend approaching we may see a small correction for GBP buyers to take advantage of. AUDNZD: NZ Building consents came out much lower than expected. NZ business Confidence is due this morning and should see another negative print, therefore propelling the Tasman Cross higher again.
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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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