AUD Trading Outlook (26-07-2011)
The Australian Dollar (AUD) was under pressure due to weakness in stocks but tracked Gold and Euro higher in the US session on the broad US weakness. Q2 PPI was strong as expected at 0.8% Q/Q. Wednesday CPI numbers will be very important to the central banks interest rate decision. Overall the AUD/USD traded with a low of 1.0794 and a high of 1.0879 before closing the day at 1.0850 in the New York session. Looking ahead, RBA Governor Speaks.
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