A$US$ breaks up through the channel

Currency Brief

Good morning all;

AUDUSD: US unemployment ticked up from 3.8% to 4% and US Wage Price Inflation stayed flat, disappointing those favouring the US$ and their hoped for Fed interest rate hike in September. The result saw the A$ break up through the recent downward channel and interestingly the US Dollar index, which measures the Greenbacks performance against a basket of 6 currencies, hit it’s lowest level since mid-June. There was no pullback – as one might expect in the midst of a trade war and heading into the weekend - so with no meaningful economic data due until mid-month the week ahead will focus on the charts and we could see the recent highs now acting as support for a continued push higher.

My forecast remains for a recovery past 0.7450 towards 0.75c to 0.77c, being last months highs.

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468


Featured Posts
Posts Are Coming Soon
Stay tuned...
Recent Posts
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