AUD Trading Outlook (06-11-2012)
Australian Dollar (AUD) the main currency in play today with the central bank of Australia (RBA) meeting and forecast to cut by 0.25%. It is a very close call though and a hold would not be a major surprise to the market. Strong US stocks and local Australian Data helped underpin the AUD/USD and we moved back to 1.0380. September Retail Sales came in strong at 0.5% vs. 0.4% forecast m/m. Looking ahead, RBA Rate Decision forecast at 3% vs. 3.25%.
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