AUD Trading Outlook (29-08-2012)

Australian Dollar (AUD) AUD/USD found support at 1.0350 and was able to bounce slightly on Tuesday but sellers came in to quickly cap the risk sensitive currency near 1.0380. Stock market direction will be the main driver this week with the RBA meeting next week the main risk event on the Horizon. On Thursday, Q2 Australian CAPEX forecast at 3.1% vs. 6.1% previously.

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