AUD Trading Outlook (26-10-2012)
Australian Dollar (AUD) AUD/USD was strong rallying to 1.0390 before easing later in the US session from profit taking given the large rally over the last 2 days. Traders are looking to the next RBA meeting with a strong chance of a rate cut still on the table. Hotter than expected inflation data this week has underpinned the rally higher with some analysts suggesting the RBA will wait rather than risk stoking inflation by cutting rates in November. Looking ahead, Japanese CPI forecast at -0.2% vs. -0.3% previously.
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