AUD Trading Outlook (22-08-2012)

Australian Dollar (AUD) was volatile rallying up to 1.0520 before reversing with the US stocks and ending on a weak footing. So far in Asia the selling has continued and accelerated as BHP the world’s largest miner cut profit forecasts and halted expansion on falling Chinese demand. Looking ahead, main event risk this week for Asia is Thursday’s HSBC China PMI release.

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