AUD Trading Outlook (02-12-2011)

The Australian Dollar (AUD) had eased on the back of disappointing Retail Sales number coming in at 0.2%, added to a fall in Building Approvals of -10.7% for the month of October. Further pressure on the AUD was seen as China PMI fell from 50.4 to 49, justifying the previous days surprise cut of China’s RRR. The AUD recorded a low of 1.0150 before rebounding to 1.0270 in the US session of trade.

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