AUD Trading Outlook (07-11-2012)
Australian Dollar (AUD) the RBA held at 3.25% in a shock to the market where most economists had forecasted a 0.25% rate cut. The RBA statement gave reasons for them holding including a soft landing for China and higher than forecast inflation. Looking ahead, October Unemployment Change forecast at 14.5k. October Australian Unemployment Rate forecast at 5.5% vs. 5.4% previously.
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