Technicals to play out whilst we have this break in major data releases
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Jim Devonport
Forex Worldwide
AUDUSD: Spent most of an uneventful session grinding lower, as the market retraces some of its post-FOMC spike. The Japanese holiday continues today and there is no data due until tomorrow. Technically the short term upward channel has broken and we see another 50 points of downside to support that held late August. AUDEUR: Closed the day flat having bounced off resistance that has capped for the last month. Goldman Sachs has suggested the Euro will weaken 10c against the Greenback, although not for the first time. With no data due the highs will be capped for one more day. AUDGBP: The Pound pushed back to the bottom of the week long range as a lack of data had the market concentrating on the technicals and therefore holding the 50% retracement of the 4 week old range. AUDNZD: Pushed higher as the short term upward channel held firm and in reaction to weaker NZ Consumer Sentiment data. There is no data due until Thursdays Trade Balance number so we’ll expect this chart pattern to play out until then. (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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