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Good data but no Aussie rally as the Specs are still selling
Positive data everywhere but no help for the embattled Aussie dollar which is betwixt and between with the speculative community lined up against it but fundamentals moving in its favour. We’ll get to that late but first the data some very good trade data in the US on the back of a big fall in energy imports helped the US trade deficit print $34.25 billion. The positive in this is that the smaller the trade deficit then the less it subtracts from growth, via net exports, and so the stronger the US GDP print will be for Q4 and then into 2014. Data out of Germany as also on the good side of the ledger with showed ... (full story)