AUD Trading Outlook (09-12-2011)
The Australian Dollar (AUD) weak Australian Job numbers in November with a -6k change vs. +10k forecast sent the AUD/USD lower in Asia but optimism in Europe saw the risk pair rally to 1.0380 before once again reversing aggressively on the ECB disappointment. The outlook is closely linked to the stock market but also Chinese data which is released today and could further suggest that the Asian giant is slowing down. Looking ahead, Chinese CPI forecast at 4.4% vs. 5.5% y/y previously.
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