AUD Trading Outlook (24-10-2012)
Australian Dollar (AUD) support at 1.0300 was broken we fell down to 1.0250 in the US session with the bears in control. The RBA is expected to cut rates but this will be greatly impacted by the inflation numbers that we see for the Q3 today. The other main risk event is the Chinese PMI which may give an indication of the pace of the Chinese economy. Looking ahead, Q3 Australian CPI forecast at 1.1% vs. 0.5% previously Q/Q and 1.6% vs. 1.1% previously Y/Y.
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