AUD Trading Outlook (06-12-2012)

Australian Dollar (AUD) the AUD/USD was quiet at 1.0480 but we found strong resistance here and pulled back to 1.0450 as the Dollar fought back in the US session. The RBA rate cut and weak retail data earlier in the week has been overlooked so far but we have November Employment Data out today that should move the Aussie more aggressively. Q3 GDP was at expectations at 0.5% vs. 0.6% previously. Looking ahead, November Employment Change forecast at 0 vs. 10.7k. November Unemployment Rate forecast at 5.5% vs. 5.4%.

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