AUD Trading Outlook (02-11-2010)
The Australian Dollar (AUD) pushed higher in Asia on buoyant Chinese PMI figures during the Asian session, coming in at 54.7 from previous 53.8 for the month of October. Upside was limited on the AUD as market remains unclear on direction of the RBA in their meeting scheduled on Tuesday (0330 GMT). Markets are pricing a 27% chance of a rate hike to 4.75% from 4.50%. The AUDUSD traded with a low of 0.9827 and a high of 0.9914 before closing the day at 0.9846.
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