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AUD Trading Outlook (05-11-2012)

Australian Dollar (AUD) the commodity led US stock selloff hit the Aussie the hardest on Friday with the commodity linked currency reversing from week highs at 1.0400 to test 1.0330 support. The RBA meets tomorrow and is the main event risk this week for the Aussie with a rate cut still the favored result. Looking ahead, September Trade Balance forecast at 1647mn vs. 2027mn. Also September Retail Sales forecast at 0.4% vs. 0.2% previously.

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