AUD Trading Outlook (06-02-2013)
Australian Dollar (AUD) the AUD/USD was almost in another world yesterday spending most of the day grinding lower to major range support at 1.0370. The catalyst was the RBA holding at 3.0% but stating that there was room for more rate cuts if needed because was well anchored for the foreseeable future. Also noted in the statement was a comment on the looming end to the mining investment boom. Looking ahead, January Retail Sales forecast 0.3% vs. -0.1% previously.
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