Currency war averted. Eyes back on US numbers and the Fed
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Jim Devonport
Forex Worldwide
AUDUSD: With the CNY weakening for a third day in a row there was understandable nervousness, however the PBoC is working to restore order and the volatility was only slight yesterday. The real news was a solid US Retail Sales number and although this may have pushed the chances of a September rate hike up, the range was held firm as forecast. Numbers due today aren’t expected to force a break as we wait for more important data next week. AUDEUR: Another day of no news from the European continent or locally has kept this pair trading tight. We need a break of the downward channel to determine direction. AUDGBP: The Pound fought back on solid house price data and as importers took advantage. However the move was only small as the market does not want to get ahead of itself with next weeks inflation and retail sales releases to come. AUDNZD: Today's NZ Retail Sales are expected to take a dive and should see further upside and a break out of this week long downward channel. (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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