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USD Trading Outlook (17-05-2013)

Weakness in commodity and precious metal market would seem to have been the main cause of overnight AUD weakness and as always in a bear market, traders only focus on the bad news. Sovereign buyers managed to hold the pair above .9800 but with little or no bounces forthcoming there seems little reason for the bears to abandon their strategies.

The economic calendar is pretty bare again today so we will rely on flows and positional adjustments for movement today during Asia.

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