Todays data is key for short term Aussie Dollar direction
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Jim Devonport
Forex Worldwide
AUDUSD: Retraced a fair chunk of recent gains as local second tier data disappointed. We look to today’s more important domestic unemployment and Chinese Inflation figures to provide the volatility. Both are expected to show improvement so we could see a bounce off these lows. Yesterday’s high was the 50% retracement of the selloff seen since late August and a break is needed for further upside. AUDEUR: Importers jumped on the relatively higher levels, pushing the pair lower. Today’s Asian data will determine short term direction, so expect the range to hold as we head towards the weekends Euro group meetings. AUDGBP: Closes despite a correction in UK Manufacturing, as the market prepares for this evenings Bk of England meeting. No change to rates or policy is expected. AUDNZD: The RBNZ cut rates by 0.25%, as expected. Governor Wheeler sees further cuts in the future as well as a weaker NZ Dollar. Further upside for this pair set to come therefore and we’ll set our sights 1.15 being medium term trend line resistance. CALL TO DISCUSS YOUR CURRENCY EXPOSURE. (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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