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)


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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