WILL THE US DOLLAR INDEX SEE FURTHER GAINS FOR THE A$?
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Jim Devonport
Forex Worldwide
AUD/USD: Opens 1% below Friday’s highs and with Stevens speaking this evening then US GDP figures following on, today’s price action should hold within the recent range. Interestingly the US Dollar Index has just recorded a 12 year high hitting 100.39 overnight, suggesting a correction and weaker US$ may be on the cards. AUD/NZD: Well supported and opens at the same level as yesterday. Unless the RBA’s Stevens says something untoward we should hold here if not push higher. AUD/GBP: Short term correction played out yesterday as GBP buyers jumped on board and technical resistance held. Inflation Report hearings are this evening and will interesting given the recent batch of negative inflation prints, however we’d need to see some very dovish statements from the hearing to break the 5 month trend line. AUD/EUR: Short term correction also came about for this pair. The move was continued with the help of better than expected Manufacturing numbers and the positivity should continue with this evenings German Ifo Business Climate Survey. Nonetheless, sentiment is very much against the Euro at the moment. (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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