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USD Trading Outlook (03-12-2013)

It will be a busy day for the AUD with retail sales in the morning (+0.4% MoM expected for November) and the RBA rate decision in the afternoon (no change in policy expected). The AUD/USD is not much changed from yesterday morning with the market focussing on other currencies. We saw a surge in the GBP during Asian trade followed by strong surges in the NZD and the USD. Strong data from the US should give the USD a bid-tone for the rest of the week pre-NFP.

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