Volatility to come over the next few days but ranges should hold prior to the Fed
Jim Devonport
Compass Global Markets
AUDUSD: US PPI flat and Consumer Sentiment dropped. Chinese Industrial Production was higher when released over the weekend, but below expectations so no reaction to the above as we open. A few releases through the week as we wait for perhaps the most important Fed meeting in 10 years. AUDEUR: A tight 50 point range as we closed the week and awaited the FinMin meeting. Nothing of note from them so we look ahead to the ZEW tomorrow. Price action is tighter so prepare for a break by week's end. AUDGBP: Well contained inside Thursday’s range as we wait for a big few days of UK data. For today however we’ll continue to hold the range. Orders should be placed as we have the potential to test either side. AUDNZD: Focus is Wednesdays Global Dairy Trade Price as it goes for a hat-trick of higher reads, followed by Thursdays GDP number. Technically we have a gap from last Thursday and should mean retracement, especially as we have hit resistance. Short term NZD buyers may want to get in now. (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
1 topic
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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