The start of a recovery or a dead cat bounce?

December 11, 2017

 

Finport Currency Brief - Courtesy of Compass Global Markets.

 

The AU$US$ bounced off the support lows yesterday, as forecast, due to a lack of economic data and as we prepare for Thursdays expected US interest rate hike and local employment report.

Prior to that, however, we do have some second tier economic releases and a speech by RBA Governor Lowe, but that shouldn't be enough to force a break of the weekend lows. 

Over in Europe, German PM Merkel is busy resolving her Government's coalition talks as well as overseeing BREXIT negotiations. The result has been a solid push higher and one Euro currency buyers may want to take advantage of, ahead of the Euro Central Bank meet on Thursday night. 

In the UK meanwhile; newspaper reports that the UK wouldn't foot the bill if there was no EU agreement was seen to keep investors out of the Pound and has also meant a retracement back higher and to the last months mid point for the AU$GBP. Tonight's UK inflation numbers, Thursdays Retail Sales and the BoE meet later that night - along with the continued political comments - will ensure  price action will be volatile and therefore offer opportunities for all. Place target orders!

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 

 

AUDUSD  

AUDEUR  

 

AUDGBP

 

 

 

Jim Devonport

Mob: 0415 066 468

Email: Jim.Devonport@Finport.com 

  

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