Will they or won't they?

Jim Devonport

Compass Global Markets

AUDUSD: Pushed on as market sentiment starts to swing away from an FOMC hike. US Inflation data disappointed and we hit the top of the upward channel. We strongly suggest putting orders in both sides of the market for what will certainly be a volatile next 24 hours. AUDEUR: 3 week highs with a weaker than expected EU Inflation print. There is no major data set to come for the rest of the week, so we shouldn’t see fresh highs yet, but our target is trend line resistance from May sitting 150 points above. AUDGBP: Closed flat having traded either side of the upward channel. UK data was healthy negating the earlier run higher by the Aussie. Tonight's Retail Sales should impress and force a break back to Monday’s levels. AUDNZD: Top of the upward channel as Current Account data disappointed. NZ GDP numbers come this morning and are expected to show an improvement meaning the channel should hold. Support for those buying AUD sits 60 points below. CONTACT US ABOUT YOUR CURRENCY EXPOSURE (VIEW LINK)


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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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