AUD Trading Outlook (07-09-2011)
The Australian Dollar (AUD) the Aussie tested 1.0500 multiple times throughout the day on Euro debt fears but was able to find support under the figure and close unchanged. The RBA held at 4.75% and noted concerns on the global financial markets that could negatively affect the Australian economy. Still the central bank was upbeat on the local economy and expected Chinese growth to be strong. UPDATE Q2 GDP at 1.2% vs. 0.9% previously.
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