AUD Trading Outlook (24-02-2012)
Australian Dollar (AUD) the AUSD/USD tracked the Euro higher but stalled at 1.0700 and consolidated in the middle of its recent range until Early Asia on Friday were we saw the next leg higher on RBA talk. RBA Governor speaking to politicians talked up the Australian economy and stated current rates are appropriate and China growth still strong. Those looking for hints of more interest rate cuts are not receiving much from the central bank lately to support their case. Looking ahead, Q4 UK GDP forecast at -0.2% vs. -0.2% previously.
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