The market expects tonights FOMC minutes to confirm a rate hike in December.

Jim Devonport

Forex Worldwide

AUD/USD: A rebound in commodities and equity markets helped steady the Aussie, however it was well contained within the downward channel. Tonight’s FOMC minutes are expected to confirm a rate hike next month. AUD/NZD: A 3rd straight read of negative dairy prices has the cross pushing up to a 6 week high. There is no further NZ data set to come this week so expect price action to hold these levels. AUD/GBP: Inflation held at 1960 lows for the second straight month, resulting in modest gains for this pair. Tomorrows Retail Sales are our focus for the rest of the week. Technical resistance now sits 50 points above. AUD/EUR: A solid read in the German ZEW Economic Sentiment Survey helped alleviate some of the downward pressure on the common currency. Nonetheless we open at highs not seen since mid-August and one would expect the upward trend to continue. There is no further fundamentals due until ECB President Draghi speaks on Friday night and he is expected to continue to pave the way for further stimulus. FULL REPORT: (VIEW LINK)

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Jim Devonport
Jim Devonport
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...


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