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)


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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