The market expects tonights FOMC minutes to confirm a rate hike in December.
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Jim Devonport
Forex Worldwide
AUD/USD: A rebound in commodities and equity markets helped steady the Aussie, however it was well contained within the downward channel. Tonight’s FOMC minutes are expected to confirm a rate hike next month. AUD/NZD: A 3rd straight read of negative dairy prices has the cross pushing up to a 6 week high. There is no further NZ data set to come this week so expect price action to hold these levels. AUD/GBP: Inflation held at 1960 lows for the second straight month, resulting in modest gains for this pair. Tomorrows Retail Sales are our focus for the rest of the week. Technical resistance now sits 50 points above. AUD/EUR: A solid read in the German ZEW Economic Sentiment Survey helped alleviate some of the downward pressure on the common currency. Nonetheless we open at highs not seen since mid-August and one would expect the upward trend to continue. There is no further fundamentals due until ECB President Draghi speaks on Friday night and he is expected to continue to pave the way for further stimulus. 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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