Profile cover photo
Profile photo
Brad Skelton
11,041 followers
11,041 followers
About
Posts

Post has shared content
Daily Forex Commentary

Australian Dollar
It’s been a wild ride for the AUD over the past 24 hours gyrating between a low of 0.7916 and a high of 0.8036 when valued against its US Counterpart. Amid highly liquid trading conditions the Australian dollar managed to give up all of its gains from overnight on Wednesday in the aftermath of comments made by RBA Governor Philip Lowe. Triggering the sell-off Phillip Lowe stated that markets couldn’t rely on accommodative monetary policy forever and that the environment of record low interest rates was nearing an end. Opening a staggering 1.2% lower the Australian dollar currently swaps hands a rate of 0.7932 when valued against its US Counterpart.

New Zealand Dollar
The New Zealand dollar has continued to fade from a position of strength over the past 24 hours, slumping to an eventual low of 0.7298 when valued against its US Counterpart. Whilst recent polling has re-affirmed the National Party’s lead ahead of tomorrow’s vote, currency moves were more influenced by the FOMC for much of Thursday’s session as the Kiwi struggled to keep pace with the world’s reserve currency. Whilst monetary and balance sheet tightening from the United States remains a critical driver over the medium-term, this weekend’s election will have the markets full attention. Opening lower the New Zealand dollar currently buys 73.07 US Cents.

Great British Pound
The Great British Pound is stronger this morning when valued against the Greenback. In recent days the pound sterling has been confined to a tight range around the 1.3500 level, however last night we saw the GBP/USD pair move higher after a US dollar sell off, reaching a high of 1.3586 ending the day just below the 1.3600 level. Looking ahead tonight and all attentions turn to Prime Minister Theresa May's scheduled statement outlining her Brexit strategy. The GBP/USD pair is currently trading at 1.3580. We now expect support to hold on moves approaching 1.3530 while any upward push will likely meet resistance around 1.3610.

Majors
During a choppy session overnight investors have continued to digest the potential implications aligned to the US Federal Reserve’s interest rate decision on Wednesday. In what initially triggered a sharp move back into the US Dollar, the world’s reserve currency has since struggled to maintain its lofty height, losing 0.1 percent when measured against several of its key counterparts. While treasuries were mixed, base metals tumbled as did a raft assets across the emerging market space. Acknowledging that markets are now well attuned to the idea of higher rates out of the US come December, ongoing tensions in North Korea will continue to plague risk appetite as Donald Trump ordered new sanctions on Thursday against individuals, companies and banks doing business with the country. In what promises to be a busy end to the week a key note speech from ECB President Mario Draghi along with several key macro events will likely see attentions shift towards Europe this evening. This morning the greenback opens marginally lower whilst the euro has picked up 0.5 percent worth of gains.

Post has shared content
Be inspired to be excellent and to succeed!

Outsource your staff with Depth Offshore. To know more go to our website: http://depthoffshore.com/ or for enquiries, Call 1DEPTH (13 37 84), available 24/7. #excellencequotes #excellenceinoffshoreoutsourcing #outsourcing #offshoring
Photo

Post has shared content
Depth Logistics is the Choice of Heavy Industry!

As we are part of the Depth Industries group of companies we are able to value-add beyond the traditional scope of freight forwarders.

For enquiries on our services, call 1DEPTH (13 37 84), available 24/7. #depthlogistics #choiceofheavyindustry
Photo

Post has shared content
Be inspired to travel!

Book your travel with us. Call 1DEPTH, available 24/7. Go to our website to know more about Depth Travel: http://depthtravel.net/ #depthtravelinspiration
Photo

Post has shared content
Daily Forex Commentary

Australian Dollar
It’s been a wild ride for the AUD over the past 24 hours gyrating between a low of 0.7916 and a high of 0.8036 when valued against its US Counterpart. Amid highly liquid trading conditions the Australian dollar managed to give up all of its gains from overnight on Wednesday in the aftermath of comments made by RBA Governor Philip Lowe. Triggering the sell-off Phillip Lowe stated that markets couldn’t rely on accommodative monetary policy forever and that the environment of record low interest rates was nearing an end. Opening a staggering 1.2% lower the Australian dollar currently swaps hands a rate of 0.7932 when valued against its US Counterpart.

New Zealand Dollar
The New Zealand dollar has continued to fade from a position of strength over the past 24 hours, slumping to an eventual low of 0.7298 when valued against its US Counterpart. Whilst recent polling has re-affirmed the National Party’s lead ahead of tomorrow’s vote, currency moves were more influenced by the FOMC for much of Thursday’s session as the Kiwi struggled to keep pace with the world’s reserve currency. Whilst monetary and balance sheet tightening from the United States remains a critical driver over the medium-term, this weekend’s election will have the markets full attention. Opening lower the New Zealand dollar currently buys 73.07 US Cents.

Great British Pound
The Great British Pound is stronger this morning when valued against the Greenback. In recent days the pound sterling has been confined to a tight range around the 1.3500 level, however last night we saw the GBP/USD pair move higher after a US dollar sell off, reaching a high of 1.3586 ending the day just below the 1.3600 level. Looking ahead tonight and all attentions turn to Prime Minister Theresa May's scheduled statement outlining her Brexit strategy. The GBP/USD pair is currently trading at 1.3580. We now expect support to hold on moves approaching 1.3530 while any upward push will likely meet resistance around 1.3610.

Majors
During a choppy session overnight investors have continued to digest the potential implications aligned to the US Federal Reserve’s interest rate decision on Wednesday. In what initially triggered a sharp move back into the US Dollar, the world’s reserve currency has since struggled to maintain its lofty height, losing 0.1 percent when measured against several of its key counterparts. While treasuries were mixed, base metals tumbled as did a raft assets across the emerging market space. Acknowledging that markets are now well attuned to the idea of higher rates out of the US come December, ongoing tensions in North Korea will continue to plague risk appetite as Donald Trump ordered new sanctions on Thursday against individuals, companies and banks doing business with the country. In what promises to be a busy end to the week a key note speech from ECB President Mario Draghi along with several key macro events will likely see attentions shift towards Europe this evening. This morning the greenback opens marginally lower whilst the euro has picked up 0.5 percent worth of gains.

Post has shared content
It's time to relax with all the stresses around us. Depth Travel shares this article, check out the world's best places to relax.

Book your travel with us. Call 1DEPTH (13 37 84), available 24/7. Go to our website to know more about Depth Travel: http://depthtravel.net/
#depthtravelinsights #relax

Post has shared content
Experience the China beyond Beijing and Shanghai, a charming wonderland where ancient crafts are still applied in the time-honoured fashion.

Book your travel with us. Call 1DEPTH (13 37 84), available 24/7. Go to our website to know more about Depth Travel: http://depthtravel.net/ #depthtraveldeals #grandchina #helloworldau
Photo

Post has shared content
We are looking for a Mobile Developer to join our growing business in Clark, Philippines, who possesses a passion for pushing mobile technologies to the limits. This app developer will work with our team of talented engineers to design and build the next generation of our mobile applications. Preferably someone who knows iOS and Android mobile development tools.

Go to this link for more information and to apply: http://bit.ly/2jM6eqz
Photo

Post has shared content
We are looking for a Mobile Developer to join our growing business in Clark, Philippines, who possesses a passion for pushing mobile technologies to the limits. This app developer will work with our team of talented engineers to design and build the next generation of our mobile applications. Preferably someone who knows iOS and Android mobile development tools.

Go to this link for more information and to apply: http://bit.ly/2jM6eqz
Photo

Post has shared content
Daily Forex Commentary

Australian Dollar
The Australian Dollar ascended against the Greenback yesterday as government yields hit their highest level since 2015 which gave support to the local unit. Pre FOMC announcement, AUD/USD hit a high of 0.8100 but soon pulled back falling almost a cent back under 0.8000 following the Fed release. As widely expected the Fed held the target rate steady at 1.00-1.25% and also announced the beginning of balance sheet normalisation next month after almost ten years of the onset of the global financial crisis. Markets are led to believe there will be three rate hikes in 2018 and perhaps one in December of this year. Aussie currently buying 0.8030 when valued against its US counterpart. Later today sees the RBA Governor Lowe speak in Perth on a speech titled ‘The Next Chapter’ to the American Chamber of Commerce.

New Zealand Dollar
The New Zealand Dollar is slightly stronger against the Greenback after the Federal Reserve on Wednesday said it would embark next month on its biggest policy shift since 2015. The central bank confirmed that it would start trimming the $US4.5 trillion balance sheet it built up. On the release of the FOMC statement the Kiwi spiked to a six week high of 0.7433. Looking ahead locally today and all attentions turn to the release of Gross Domestic Product for the second quarter which is expected to rise 0.8%, taking the year on year pace to 2.5%. The NZD/USD pair is currently trading at 0.7352. We now expect support to hold on moves approaching 0.7340 while any upward push will likely meet resistance around 0.7400.

Great British Pound
The Great British Pound enjoyed mixed fortunes through trade on Wednesday, rallying early before relinquishing gains in the wake of the Federal reserve’s policy announcement. Sterling found support early after retail sales for August printed well beyond expectations and heightened the likelihood of a BoE rate hike before the year is out; 66% of analysts are pricing in a November rate adjustment. Surging through 1.36 Sterling met resistance in softer wage growth and weaker company investment expectations edging lower into the FOMC’s policy announcement. The GBP then slumped back through 1.35 and touched intraday lows at 1.3456 following hawkish Federal Reserve commentary. Attentions now turn to mid-level macroeconomic indicators ahead of key Brexit commentary from Prime Minister Theresa May on Friday.

Majors
The US dollar advanced across the board through trade on Wednesday buoyed by commentary from the FOMC and Federal Reserve. Investors looked to unload USD holdings leading into the announcement forcing the greenback lower against a basket of major currency counterparts. The 19 nation Euro touched intraday highs at 1.2019 while the Yen touched lows at 111.25. The Dollar then enjoyed immediate upside and touched two month highs against the yen surging back through 112 while the Euro tumbled below 1.19. The U.S Central bank confirmed it would begin tapering its bond buying program next month reducing the scope of U.S treasuries to be re-invested. This was however largely anticipated and it was the suggestion a rate hike remains on the table before year end that drove the dollar higher. Despite persistently low inflation and mixed macroeconomic performance the committee members maintained their path to rate normalisation through 2018, however a reduction in the long term outlook from 3.00% to 2.75% capped USD upside while addendums to action and requirements for improved macro conditions ensured extended gains were curbed. Attentions now turn to ECB President Mario Draghi as he hits the wires and addresses attendees to the European Systemic Risk Board’s annual conference. Investors will be looking for any clues the ECB will soon begin tapering its own QE program.
Wait while more posts are being loaded