AUD Trading Outlook (12-03-2012)
Australian Dollar (AUD) the Aussie reversed as support disappeared even with stocks up and Gold higher. A string of poor economic data last week finally took its toll and we saw the risk currency moving back below 1.0600 into the weekend. On Monday the AUD/USD opened very weak with the largest Chinese trade deficit 30bn vs. 5bn forecast the biggest in over 10 years in February. Looking ahead, Australian February Business Confidence previously at 4.
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