All going right for those buying from offshore
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Jim Devonport
Forex Worldwide
AUD/USD: Recovered short term losses as commodities and equities bounced, the US Dollar Index fell - as forecast and the RBA’s Governor Steven’s scomments. There is no major local data due today, so we should see a slow drift off from the open as we head towards US data this evening Thanksgiving tomorrow. AUD/NZD: Edges higher still on Steven’s comments. Tomorrows NZ Trade Balance figures may slow the trend but we appear set for August highs. AUDGBP: Hit 3 month old trend line resistance as Carney suggests interest rates are set to stay low for some time and recent data confirms growth is slowing in the UK with inflation is virtually non-existent. UK GDP is due Friday so we should see the technicals hold and we’d suggest those buying Pounds act now. AUD/EUR: At 4 month highs, despite a solid pick up in the Ifo that improved to a 17 month high, (pre-"Paris”). The uptrend therefore continues as a flood of more Euro’s is expected into the system next month, suggesting a test of levels seen in April. (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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