The perennial bear gives AU$ buyers a hand

Jim Devonport

Compass Global Markets

AUDUSD: The Australian Dollar had a slight look lower with the domestic inflation report, however it was a speech by the perennial bear, Governor Stevens, which really pushed the currency lower. He stated that interest rate cuts remain firmly on the table and that a lower currency is likely and needed. Commodities also fell again, adding to the down move, however we have found some support as we open. There is no further major data due until next week so we look to the charts and see a short term upward trend line that is giving that support for now and should hold until next week. For the full commentary please click here : (VIEW LINK)

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Jim Devonport
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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