80c done, 0.8150 the next stop.

January 17, 2018

Finport Currency Brief - Courtesy of Compass Global Markets.

 

Good morning all;

AUDUSD:  Has popped through 0.80c, but with better than expected US data plus news Apple will be buying nearly US$40 billion to pay a tax bill we have also had a dip back lower as forecast. Focus is now on today's domestic Unemployment data and Chinese GDP. Both have the potential to see a sharp correction in either direction so be prepared. Further out I see this upward trend continuing, with 0.8150 as an initial target. 

AUDEUR: We got my predicted bounce here as the A$ continues it's march on the Apple news and on some conflicting statements from EU central bankers. This move may have some leg's so importers should take note.

AUDGBP: Has flat lined as both currencies trade a similar pattern against the US$, but this price action could easily break today. Short to medium term direction really is data dependant, so placing orders at your chosen levels is the best way to go.  

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 

 

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