AUD Trading Outlook (18-05-2011)
The Australian Dollar (AUD) the market sold off aggressively towards the 1.0500 before bouncing in the US session to above 1.0600 and finishing well supported. RBA Minutes showed that the central bank was already factoring more rate rises when the economy was ready to help slow inflation. Overall the AUD/USD traded with a low of 1.0504 and a high of 1.0640 before closing the day at 1.0625 in the New York session. UPDATE Q1 WPI at 0.8% vs. 1.0% previously.
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