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AUD Trading Outlook (08-12-2011)

The Australian Dollar (AUD) rallied on solid GDP numbers for the Q3 coming at 1.0% Q/Q which is one of the highest in the developed world supported by strong mining exports to China. The AUD/USD tested 1.0300 in the US session but found solid resistance and went very quiet ahead of tonight’s ECB risk event. Looking ahead, November Unemployment Change forecast at 10.6k vs. 10k previously. Unemployment rate is forecast to remain at 5.2%.

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