AUD Trading Outlook (04-03-2013)
Australian Dollar (AUD) in under pressure able to hold at 1.0200 last week but crashing lower today as new Chinese property measures sent the shanghai stock index sharply lower. The 1.0150 key support was broken and we are at 1.0120 and looking vulnerable as we enter the European session Monday. The RBA meet tomorrow and are unlikely to cut but the statement will be analyzed for clues as to future moves. Update January Building Permits at -2.4% vs. 2.8% forecast.
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