US employment means all eyes on the Fed, but the Chinese return is key in the short term
Jim Devonport
Compass Global Markets
AUDUSD: Opens over a cent lower than Friday following the NFP report and drop in unemployment. Tomorrows Chinese Trade Balance number is key, as is Thursdays domestic Unemployment data and Chinese Inflation release. Technically there doesn’t seem a lot of support around for another 100 points or so. AUDEUR: Took another turn lower as investors return to the lower yielding "safe haven" currencies. There is no market moving events due out of Europe this week, so direction will be determined by Asian factors. Next weekends EuroGroup meetings should also keep us range bound. AUDGBP: The Pound lost ground versus the Greenback and so gains versus the Aussie Dollar were limited. Weaker UK data is set to continue with Manufacturing numbers Wednesday ahead of Thursdays BoE. With the above due and the target hit, we cannot see a reason for fresh lows just yet. AUDNZD: Both currencies are suffering internationally although will see what happens when the RBNZ meet on Thursday. Odd's are for a 25bps move but don't rule out 50bps just because of 2 higher milk price reads. (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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