FOMC hikes but the Aussie holds its own.
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Jim Devonport
Forex Worldwide
AUD/USD: As expected the FOMC increased interest rates by 0.25%. The decision which has been priced into the markets for some weeks did deliver some volatility, however the AUD opens relatively unchanged from yesterday’s levels. The FOMC sighted improving job numbers as a key reason for increasing rates, however did sight a future raise would only be on the table should the inflation rate rise. No major data of notes for the following two days, so we’ll hold these levels for now. Looking to 2016 and we favour the high 70's due to a Chinese turnaround and cheaper commodities. AUD/GBP: The AUD has gained ground on the Sterling overnight due to weaker average earnings and unemployment benefit figures out of the UK. Retail sales figures this evening could see further upside. AUD/EUR: Much like the Pound, the EUR dropped immediately following the US interest rate decision, however German and French manufacturing data came in strongly yesterday, which managed to offset some of the losses. CONTACT JIM DEVONPORT AT COMPASS FOR A FREE CURRENCY EXPOSURE HEALTH CHECK: 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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