AUD Trading Outlook (27-07-2011)
The Australian Dollar (AUD) tracked the Euro higher able to ignore the falls in the stock markets with USD weakness the main story. RBA Governor Steven&rsquo s speech helped lift as well with positive comments on the economic outlook ahead of today all important CPI numbers. Overall the AUD/USD traded with a low of 1.0820 and a high of 1.0970 before closing the day at 1.0960 in the New York session. Looking ahead, Q2 CPI forecast at 0.7% vs. 1.6% q/q.
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