AUD Trading Outlook (13-05-2011)
The Australian Dollar (AUD) was crushed lower on surprisingly weak April jobs data at -22.1k vs. 17.6k previously. The Unemployment Rate stayed at 4.9% but the market broke below 1.0600 in Asia and then day lows in Europe before bouncing and testing 1.0700 in the US session. Overall the AUD/USD traded with a low of 1.0565 and a high of 1.0699 before closing the day at 1.0670 in the New York session.
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