The AU$ being left behind 1/12/17

November 30, 2017

Finport Currency Brief - Courtesy of Compass Global Markets.

 

Despite the solid support the AU$ appears to enjoy against the US$ around these levels, having bounced around in a 0.0170 point range for the whole of November, the local currency is suffering versus the other majors. EuroUS$ is up 0.0400 points and GBPUS$ is up 0.0500, respectively since the start of the month, meaning a solid up turn in expense for those those importing from either side of the British Channel - when those moves are calculated as EuroAU$ and GBPAU$.

The outlook  against the US$ is still favourable however, with the likely hood of our Reserve Bank holding interest rates another 6 months, whilst the US Federal Reserve's expected interest rate hike in a fortnight is largely priced in to today's exchange rate.

I'd expect these current levels to hold for the next couple of business days, as we wait for the RBA meet on Tuesday and a flood of major economic data later next week. Those numbers ought to see a belated AU$US$ take off and should also result in a pull back in AU$ versus the European crosses; therefore some respite for those with invoices to pay. 

Call me to discuss target levels. 

 

Have a great weekend.  

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 

 

AUDUSD for November

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AUDEUR for November 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AUDGBP for November

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jim Devonport

Mob: 0415 066 468

Email: Jim.Devonport@Finport.com 

  

Please reload

Featured Posts

I'm busy working on my blog posts. Watch this space!

Please reload

Recent Posts

February 9, 2020

Please reload

Archive
Please reload

Search By Tags
Please reload

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Free Call: 1800 FINPORT (346767)   Email: info@finport.com

Finport Finance Pty Limited ACN 624 778 123.

Finport Trade Finance Pty Limited ACN 606 669 505.

 

Business Address: Suite 105, 20A Danks Street, Waterloo, NSW 2017

Registered Office: Level 11, 1 York Street, Sydney NSW 2000

Mailing Address: PO Box 2289, Taren Point NSW 2229

 

Finport makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.

Website Terms of Use     Disclaimer    Privacy Policy

  • Facebook Social Icon