AUD Trading Outlook (06-09-2012)
Australian Dollar (AUD) support was found under 1.0170 overnight and we bounced back above 1.0200. Q2 GDP was slightly worse than expected yesterday at 0.6% vs. 0.7% previously. August Unemployment was mixed with a fall -8k jobs but also a drop in the unemployment rate to 5.1%. The Aussie will follow the stock market’s reaction to the ECB tonight. Looking ahead, Trade Balance forecast at -300mn vs. 9mn previously.
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