Virtually a toss of a coin on whether the RBA will move

Jim Devonport

Compass Global Markets

AUDUSD: Despite a small increase in PPI the local unit dropped again to hit support. Focus this week is tomorrows RBA with a 48% chance of a rate cut. Volatility will be huge so we suggest placing orders with targets set 70 points above and 2cents below this morning open. AUDEUR: Slightly higher on growing concerns over Greek debt and the amount of additional ECB QE. Focus is on Draghi's speech on Wednesday, so until then any volatility will be short lived. AUDGBP: Confirmed the break of the short term upward correction and we now see clear room to the downside. It’s a huge week ahead for the Pound with Manufacturing, Construction and Services sectors all reporting along with a BoE meet on Thursday evening. AUDNZD: An uptick in Business Confidence and downturn in Chinese Manufacturing has the Tasman Cross lower again. NZ Dairy prices are released Tuesday evening and Unemployment on Wednesday morning, so expect sharp moves for this pair over that 12 hour period. Technically we appear set for long term support 130 points below. FULL REPORT: (VIEW LINK)


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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