AUD Trading Outlook (11-05-2012)
Australian Dollar (AUD) the AUD/USD relief rally on the back of very strong jobs data was short lived and the downtrend has regained control focusing on 1.0000 in Asia today. The JPMorgan story has already hit the market and only the Chinese data can save the Aussie now. Looking ahead, April Chinese PPI forecast at -0.6% vs. -0.3% previously y/y. April Chinese CPI forecast at 3.3% vs. 3.6% y/y. April Chinese Industrial Output forecast at 12 vs. 11.9 previously. April Retail Sales forecast at 15.2 vs. 15.2% y/y.
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