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AUD Trading Outlook (09-01-2013)

Australian Dollar (AUD) the AUD/USD continued to orbit the 1.0500 level with sellers at 1.0525 capping but support at 1.0480 is also proving very solid. EUR/AUD has been pushing to the downside falling from 1.2500 to 1.2440 overnight as the Aussie holds up better than the EUR/USD. November Trade Balance forecast at -2637mn vs. -2300mn forecast with imports outpacing exports. Looking ahead, November Retail Sales forecast at 0.3% vs. 0.0% previously.

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