The short lived Australian Dollar rally sees us playing the waiting game again
Jim Devonport
Compass Global Markets
AUDUSD: Given up 1% of the rally as Lockhart’s comments of a rate hike weigh on our currency, despite uninspiring data from theUS. Today’s domestic unemployment data will be of interest and potentially a short term market mover, however we are really waiting for the RBA’s statement and US Non-Farm Payrolls tomorrow. Technically we have returned to our forecast support levels, that were resistance over the last couple of weeks. AUDEUR: Another day of no major economic data from Europe meant focus was on secondary data and a pick up in the Services sector saw a drift lower for this pair as well. The picture remains the same today and so expect the prior resistance, now support, to hold. AUDGBP: The Pound recovered some of its losses, despite a drop in the Services sector number, as the market awaits this evenings BoE meet. Orders either side the way to play this week. AUDNZD: Held up at the highs. Yesterday’s early morning NZ numbers giving the market no reason to believe the RBNZ are to move from their easing policy. (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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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...
Expertise
No areas of expertise
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...
Expertise
No areas of expertise
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