A Christmas hike's a comin'
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Jim Devonport
Forex Worldwide
AUDUSD: Sunk just shy of 150 points upon release of a strong NFP, pushing unemployment down to just 5% and perhaps forcing the FOMC’s hand. Technically we have held the downward channel and the only chance of a break higher may come with a solid domestic employment number on Thursday. AUDEUR: Spent the 3rd consecutive day trading along the 50% Fibonacci retracement of the 6 month sell off. We should maintain the range at least until Wednesday night’s speech by ECB Chairman Draghi. AUDGBP: Surprised to the upside as late comers continued to sell out of Sterling. Nonetheless technical resistance held firm, as forecast, and the pair swiftly retraced back into the downward channel. UK Unemployment is our only focus this week, but not expected to shock, so we see lower levels to come. AUDNZD: Held a 60 point range to close flat as both currencies traded in a similar fashion upon release of the US data. The only NZ focus this week is the RBNZ Financial Stability report and a speech by the central bank Governor. 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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