AUD Trading Outlook (10-09-2012)
Australian Dollar (AUD) the AUD/USD fortunes improved greatly on Friday with the market caught short after weak local economic data. The weak US Dollar and soaring Gold help lift the AUD/USD above 1.0300 to 1.0400 highs by the close. Some weak Chinese data over the weekend has led to some slight selling so far in Asia but nothing aggressive yet. The AUD/USD remains firsts and foremost a risk currency so day to day movement in stock markets will dictate the direction and trend. UPDATE China August Trade Balance 26.6bn vs. 19.8bn forecast. Imports -2.6% vs. 3.5% forecast.
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