A break in the A$ at last
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Jim Devonport
Forex Worldwide
AUD/USD: A 5 ½ week downtrend was surprisingly broken as the PBoC cut borrowing costs from 4.5% to 2.75% in another attempt to stimulate their faltering economy. That, continued fallout from the FOMC minutes and “stops” being triggered on the break saw a near 1c move higher. There is no major data due today and with a heat wave expected on the east coast we’d expect a session of consolidation. AUD/NZD: This pair actually traded sideways as the PBoC news was negated by a much better than forecast Producer Prices number. With no data due today we should hold the range until next week. AUD/GBP: Pushed to 2 week highs on Chinese developments and as UK Retail Sales data disappointed. With no further data due we see sideways if not lower price action. AUD/EUR: Now 125 points higher over the week as the market is pricing in more and more monetary stimulus and of course on the geopolitical tension. Draghi speaks this evening and could well spark another run higher. FULL REPORT: (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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