Still on track for a Xmas Fed hike, but will the RBA cut beforehand?
Jim Devonport
Compass Global Markets
AUDUSD: US$1 cent lower as inflation figures disappointed and the FOMC kept rates on hold, but suggested a move in December. US GDP figures are our main focus and the last major data ahead of the RBA meet next Tuesday. We’ll have more on the latter in Monday’s report. Technically at support so there's potential for a grind higher today. AUDEUR: The FOMC comments have benefited the Aussie here as the Euro suffers elsewhere, (breaking through the psychological 1.10US$ level). The losses seen yesterday morning have been reversed so still attractive levels for importers. AUDGBP: Sterling continues to strengthen. No major data from the UK until next week so technically the support levels of the short term upward channel should hold for now. We do expect a break nonetheless. A$1 = £0.40pence anyone? AUDNZD: Huge volatility as Australian inflation weakens and the RBNZ hold rates. Governor Wheeler did however warn another cut . On the charts there is room for another 200 points of downside, but we should hold a tight range ahead of Tuesday’s RBA meet. 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
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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