Virtually a toss of a coin on whether the RBA will move
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Jim Devonport
Forex Worldwide
AUDUSD: Despite a small increase in PPI the local unit dropped again to hit support. Focus this week is tomorrows RBA with a 48% chance of a rate cut. Volatility will be huge so we suggest placing orders with targets set 70 points above and 2cents below this morning open. AUDEUR: Slightly higher on growing concerns over Greek debt and the amount of additional ECB QE. Focus is on Draghi's speech on Wednesday, so until then any volatility will be short lived. AUDGBP: Confirmed the break of the short term upward correction and we now see clear room to the downside. It’s a huge week ahead for the Pound with Manufacturing, Construction and Services sectors all reporting along with a BoE meet on Thursday evening. AUDNZD: An uptick in Business Confidence and downturn in Chinese Manufacturing has the Tasman Cross lower again. NZ Dairy prices are released Tuesday evening and Unemployment on Wednesday morning, so expect sharp moves for this pair over that 12 hour period. Technically we appear set for long term support 130 points below. 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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