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Whats happening with the AUD against the EURO?

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:32 PM (NZT) This week has seen sideways trading within a relatively contained range for this pairing. Obviously news has not been good in Europe, but this sentiment feeds directly through to demand for AUD, seen as the proxy for global growth. The employment numbers in Australia yesterday did provide a temporary boost for the AUD, but those gains have all but evaporated now.   Expect more of the same next week for the most part. European GDP numbers will be closely watched, as will the RBA monetary policy meeting minutes.
 
The current interbank midrate is:                                               AUEUR  .7785                    EURAUD  1.2845                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .7745 – .7826   EURAUD 1.2778 – 1.2912
 

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