AUD Trading Outlook
The Australian Dollar (AUD) traded with a heavy tone throughout much of the day, as reports of possible Dexia rescue plan collapse may place France’s credit rating under review, added to poor Chinese PMI number released at 48, it lowest recording in 32 months, ensured the Aussie Dollar lost its demand due to its risk nature. In the overnight session headlines surrounding Germany’s now imminent exposure to the euro debt crisis attributed to the AUD posting its lowest levels of 0.9664 since the 6th of October. The NZD in similar fashion lost appeal as risk appetite remained considerably off posting a fresh 8 month low of 0.7386.
The Australian Dollar (AUD) has traded at fresh 6 week lows on Wednesday morning (Asia) of 0.9775 reacting to headline releases in EU. With risk substantially off the AUD continues to set multi week lows, with the NZD also recording an 8 month low of 0.7435. ALERT: China PMI released at 48 for November. Recording a 32 month low
The Australian Dollar (AUD) fell to fresh 5 week lows of 0.9964 on Friday before regaining the $1 level. With little data due, the AUD remained pressured to ever growing pessimism in regards to global growth outlook.
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