AUD Trading Outlook (25-07-2011)
The Australian Dollar (AUD) fell asleep on Friday testing higher in Europe but falling back to opening levels as US stocks fell into the close on debt ceiling concerns. Crosses are more interesting with AUD/NZD and AUD/JPY providing plenty of movement. Overall the AUD/USD traded with a low of 1.0815 and a high of 1.0874 before closing the day at 1.0850 in the New York session. Looking ahead, Q2 PPI forecast at 0.7% vs. 1.2% previously.
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