The eye of the storm

Jim Devonport

Compass Global Markets

AUD/USD: Holds recent highs as the GDP data release matched a better than expected US ADP NFP number. We're also reluctant to take the pair to fresh levels as we wait for important data, including Fridays NFP report that could well further cement a hike from the FOMC . AUD/NZD: The local GDP number has the cross to 1 week highs. There is no more NZ data due, so direction will come from this side of the Tasman. AUD/GBP: Touched levels not seen since the 1st of July. Weaker Construction data put another nail in the coffin of a rate hike. Services sector numbers are due this evening and are expected to show an improvement, which may well spark a retracement. AUD/EUR: Hit 5 month highs on the local data, however the market was spooked Spanish Employment and EU Inflation. Price action was also kept in check given the huge expectations of further monetary stimulus to come from this evenings ECB meeting. Any disappointment could see a sizeable retracement, conversely a flood of Euro’s pushes us over 0.70 (VIEW LINK)


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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