QUIETER WEEK EXPECTED SO A$ MAY BE PRONE TO A CORRECTION
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Jim Devonport
Forex Worldwide
AUD/USD: Pushed higher as the market looks past next months expected FOMC rate hike. We’ll have a slow start to the week with a Japanese holiday today and just a speech by Governor Stevens the highlight tomorrow. Technically we target at the 50% retracement of the selloff seen since June. AUD/NZD: At 7 week highs due to an expected cut from the RBNZ next month. Technically we are well supported and should push on. AUD/GBP: A huge blow out in UK PSNB gave the market further reason to believe the BoE will delay a rate hike. With no major UK data until Friday and trend line technical resistance here, (from the highs of June and October), we may well see a short term correction. AUD/EUR: Also rallied sharply as Draghi again stated his desire to add further stimulatory measures. French and German Manufacturing data is due this evening and the German Ifo Business Survey tomorrow, all of which are set to improve so we’ll favour a small correction lower short term. 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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