Yellen pencils in a Christmas hike

Jim Devonport

Compass Global Markets

AUDUSD: Again on the back foot throughout Asia, however recovered with weaker US data and we waited for Yellen’s speech. She has said a rate move is likely appropriate this year and confirms our thoughts of a Christmas hike. We should push up during the day as we head to the weekend. AUDEUR: Euro continued to march higher across the board, as the market shifts sentiment. The overnight move was reversed as we awaited Yellen’s speech and hit 5 week old technical support, but sentiment appears strong for a break to the downside. AUDGBP: A flat close whilst price action kept within the downward channel. Sterling is nonetheless not the world’s favourite currency either at the moment so we can’t see too much of a reason for this to break the trend. AUDNZD: Has maintained its move lower on the back of the positive results from Fonterra. On the charts we also appear to be closing the RBNZ inspired gap from earlier in the month so feel that will be the target for any AUD buyers out there. (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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