AUD Trading Outlook (02-04-2012)
Australian Dollar (AUD) the Official Chinese PMI released of the weekend saw the sharpest expansion in 12 months at 53.1 but this is in stark contrast with the private survey showing a contraction in March. Analysts are skeptical and although we opened up over 1 cent higher the price action post open in Asia so far has been one way selling. The RBA meeting tomorrow is expected to be a hold but if the statement is dovish the recent downtrend may be extended this week.
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