Todays Chinese numbers and tomorrows RBA minutes key for medium term

Jim Devonport

Compass Global Markets

AUDUSD: On the back foot as mixed US data kept the market guessing as to timing of the first Fed hike. Today's Chinese data will be important, along with tomorrows RBA minutes. Technically a break of the flag formation determines direction. AUDEUR: Another dip in EU inflation kept this pair well contained. Attention turns to the ECB on Thursday and so expect this range to be held until then. Interestingly we sit shy of resistance that comes from April highs and if broken should see a 150+ point move. AUDGBP: Spent most of last week giving up gains made at the start of October. A speech by the BOE’s Carney tomorrow and Thursday's UK Retail Sales are our focal points. Technically we need support 50 points below to hold for any hope of another look to the top side. AUDNZD: Pushes lower still as the market prices in an end to the RBNZ’s rate cuts. Tuesday night’s Global Dairy Trade Price number takes on even greater significance. On the charts support should hold here, as it did in May. (VIEW LINK)


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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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