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AUD Trading Outlook (11-12-2012)

Australian Dollar (AUD) was very subdued yesterday in a 30 pip range finding solid sellers at 1.0500 and strong support near 1.0460. Chinese Trade Balance fell in November to 20bn as exports were lower than forecast. EUR/AUD is still getting attention with the important cross finding support at 1.2300 and buoyant in Asian trade Tuesday. Update Australian Business Confidence slumps to -9 in November near 2008 Financial crisis levels as the business cycle peaks for the commodity powerhouse. Looking ahead, no economic data.

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