AUD Trading Outlook (25-11-2010)
The Australian Dollar (AUD) was very well supported off lows in Asia and shrugged off another attempt lower in European session before staging a rally in the US session. The market is caught between ongoing China tightening/European Concerns and general investor optimism creating demand for the high yielding Australian Dollar. Overall the AUD/USD traded with a low of 0.9737 and a high of 0.9855 before closing the US session at 0.9820. Looking ahead, Q3 Capex forecast at 3% vs. -4% Q/Q.
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