Volatility at last as hawkish central bankers take center stage
Jim Devonport
Compass Global Markets
AUDUSD: Rallied 2% as Governor Stevens changed tune suggesting the currency “is adjusting to the significant declines in key commodity prices”. The result was a break of the recent range although a correction lower towards the close as the Fed’s Lockhart said they’re ready to go in September. On the charts initial support is at prior resistance, but don’t be surprised to see that broken given the time of year and importance of the fundamental releases. AUDEUR: Has pushed up to near two week highs. Technicallyour forecast test of resistance came true and we appear set for the 50% retracement of the recent sell off. AUDGBP: The Pound weakened across the board as Construction data disappointed. Services sector numbers are tonight and expected to prove just as volatile. Orders the way to play this week. AUDNZD: Another fall in the dairy price pushed the cross 2 cents higher. Unemployment is due this morning and any uptick there and we should push higher still as chances of a ½% cut to the OCR grow. Medium target still set at 1.20+ (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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