AUD Trading Outlook (02-12-2010)
The Australian Dollar (AUD) was very volatile falling heavily after weaker than expected Q3 GDP at +0.2% vs. +0.5% before the market tracked the Euro and stocks turning positive and then gaining on the day. Risk appetite continues to be the biggest contributor to intraday Aussie movement. Overall the AUD/USD traded with a low of 0.9536 and a high of 0.9700 before closing the US session at 0.9670. Looking ahead, October Trade Balance is forecast at 2000m vs. 1760m previously. October Retail Sales forecast at 0.3% vs. 0.3%.
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