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AUD Trading Outlook (23-01-2012)

Australian Dollar (AUD) was able to decouple from the Euro selling on Friday and Monday morning in Asia as the commodity currency continues to receive support after breaking higher earlier in the week. AUD/JPY is providing plenty of support as is the EUR/AUD which resumed its downtrend on Friday. Stock markets are doing very well so far in 2012 and if the trend continues the AUD/USD could retest all-time highs above 1.1000 this quarter. UPDATE Q4 PPI was at 2.9% vs. 3.0% forecast y/y.

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