AUD Trading Outlook (04-11-2010)

The Australian Dollar (AUD) although punching below 0.9900 for a short period, the AUDUSD moved to firmly establish itself above parity levels to set Fresh post float highs for the second time this week. Coupled with the decision by the RBA to hike rates on Tuesday, the decision by the FOMC to extend a greater stimulus package confirmed the underlying strength in the AUD with markets switching to a &ldquo risk-on&rdquo mentality. Market now focuses on Retail Sales and Trade Balance figures during Thursday&rsquo s Asian session. &nbsp The AUDUSD traded with a low of 0.9892 and a high of 1.0063 before closing the day at 1.0053. In other news, New Zealand Unemployment fell to 6.4% from 6.9% for the 3^rd Quarter, whilst employment grew by 1%, pushing the NZDUSD up above 0.7880 to be the strongest performing currency overnight. The AUDNZD fell 245 points to 1.2745 from 1.2990 shortly after the Unemployment figures. UPDATE: Aussie Retail Sales for the month of September seen at 0.3% (F&rsquo cast: 0.4%)