AUD Trading Outlook (31-05-2011)
The Australian Dollar (AUD) consolidated near 1.0700 and is threatening to resume the uptrend with the correction seen over in stock markets. Concerns include China and Greece but if these fail to materialize then a retest of 1.1000 could be seen in coming weeks. Overall the AUD/USD traded with a low of 1.0673 and a high of 1.0730 before closing the day at 1.0700 in the New York session. UPDATE Q1 Current Account at -10.45bn vs. -8bn previously.
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