Yellen pencils in a Christmas hike
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Jim Devonport
Forex Worldwide
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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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
Manager
Forex Worldwide
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
Manager
Forex Worldwide
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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