The eye of the storm
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Jim Devonport
Forex Worldwide
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)
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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
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1 topic
Jim Devonport
Manager
Forex Worldwide
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
Manager
Forex Worldwide
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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