AUD Trading Outlook (08-09-2011)

The Australian Dollar (AUD) the Aussie led the global rally surging above 1.0600 after stronger than expected Q2 GDP. Q2 GDP came in at 1.2% vs. 1.0% previously. AUD/JPY broke above Y82 and could rally if the Yen weakens or intervention from the BOJ emerges after the G7. Looking ahead, August Employment Rate forecast at 5.1% vs. 5.1% previously. Employment change is forecast at 11k vs. -0.1k previously.

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