AUD Trading Outlook (01-02-2013)
Australian Dollar (AUD) the AUD continued to underperform overnight with selling once again selling into a small rally inspired by strong AUD/JPY buying and EUR/USD moves higher. The main reason for the underperformance has been strong cross buying on the EUR/AUD and GBP/AUD which have been enjoying solid gains this week. EUR/AUD hit 1.3100 and up from1.2400 at the start of January. Update Q4 PPI at 0.2% vs. 0.6% previously q/q.
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