80c here we come, parity anyone?

January 17, 2018

Finport Currency Brief - Courtesy of Compass Global Markets.

 

Good afternoon all;

AUDUSD:  Weaker US$ sentiment continues to be the order of the day. There was no economic data of note, so no reason for the market to change their mind. However having said that we did hit a high of 0.7999 this morning so there may well be some happy to jump on anything beginning with 0.8 level and therefore force a temporary dip, especially as we head towards tomorrow mornings domestic Unemployment Rate. Further out and I see 0.8150 as the next port of call, being technical resistance, as the trend remains firmly in place. 

AUDEUR: Remained in a tight range as the market digests the planned German political coalition.  There is no EU centric data of note this week, so I can see a bounce, especially if the afore mentioned domestic data is as expected.

AUDGBP: Also kept well with the previous sessions high and low, despite UK inflation numbers showing a small dip to 3.0%. There is no other UK data due until next week, so direction will be dictated locally - that is unless something political comes out of left field (or right field given it's the Tories). 

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 

 

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