AUD Trading Outlook (19-09-2012)
Australian Dollar (AUD) the Aussie was the weakest currency in the market overnight with more China slowdown concerns and weakness in commodities putting the sellers in control. The AUD/USD has now pulled back 200 pips since Friday’s highs and is losing ground on all its’ crosses. The feeling towards the AUD/USD is mixed with the strong stock outlook supporting but fears that the Australia economy has peaked and entering a contractionary business cycle are weighing. UPDATE BOJ Hold at 0.1% but expand bond buying program.
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