AUD Trading Outlook (05-01-2012)
The Australian Dollar (AUD) the Aussie dipped towards 1.0300 but found support and closed at opening levels in a bullish resistance to the Eurozone risk off. EUR/AUD hit all-time lows under 1.2500 and is continuing to trend lower. The outlook is mixed with a major event in Europe potentially causing a sharp selloff back to the 1.0000 level. We continue to look to the stocks markets and US Non Farm Payrolls data on Friday. UPDATE Trade Balance at 1380mn vs. 1595mn previously.
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