Got our favoured break -

Finport Currency Brief - Courtesy of Compass Global Markets.

Good morning all;


AUDUSD: Broke to the downside with a jolt yesterday as the US Dollar strengthened on higher bond yields and our local Unemployment picture disappointed. Last month saw just 4.9k jobs created and the prior months read revised down from +17.5k to -6.3k. The adjustment to last months number was surprising and brought about my forecast break out of the tight range, although I must admit I didn't expect it to be to the downside. This 78c is proving difficult to break at the moment, but I believe we'll have another go very shortly. Those buying A$ may want to call in today, whilst those selling A$ go have a nice weekend.

AUDEUR: The Euro remains fixed against the US$ as there has been no EU data and we look towards next weeks European Central Bank meeting. This pair did have a push above 0.63 levels, however, with the Aussie job's data such a disappointment the highs were short lived. This pair should slowly track back up again, as we close out the week.


AUDGBP: The Pound is the worst performing currency in the G10 as disappointing UK Retail Sales data was coupled with a weaker inflation report and that basically knocks thoughts of an interest rate hike for six. The particularly poor UK winter has been a major factor in the above data, so I see these as not your typical read and still hold my view of a stronger Pound to come. News that UK pharma company Shire may be bought for GBP 40 billion, did give the price action some support. We open at highs that have capped for the last month, so suggest now is a good as time as any to look at paying that UK invoice.

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468

AUDUSD

AUDEUR

AUDGBP

Featured Posts
Posts Are Coming Soon
Stay tuned...
Recent Posts
Archive
Search By Tags
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