AUD Trading Outlook (09-03-2011)
The Australian Dollar (AUD) was unable to gain even as the US stocks rallied with the Euro and GBP on the back foot. The market is keenly awaiting the New Zealand Rate Announcement tomorrow morning with a chance of a rate hike given the major earthquake. Overall the AUD/USD traded with a low of 1.0051 and a high of 1.0136 before closing the day at 1.0085 in the New York session. Looking ahead, RBA Governor Stevens Speaks and RBNZ Rate Call forecast at 2.5% vs. 3.0%.
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