Still on track for a Xmas Fed hike, but will the RBA cut beforehand?
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)
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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