AUD Trading Outlook (03-10-2012)
Australian Dollar (AUD) The AUD/USD was crushed lower for most of the day after the Central bank surprised most economists by cutting its interest rate to 3.25% vs. 3.5% previously. Citing China’s slowdown and ongoing global uncertainty and EU issues the RBA thought it prudent to cut with most now seeing them following up with a 0.25% cut in November. Looking ahead, August Trade Balance forecast at -700mn vs. -556mn previously.
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