daytrading june 8 morning, page-30

couple of possible reasons for sell down

http://www.forexlive.com/blog/2012/06/08/it-must-be-friday-tokyo-selling-risk-trades/

The mild AUD/USD recovery back to .9915 has been immediately negated as Tokyo enters the fray and sells risk trades, as they often do on Friday.

The Chinese rate cut now has traders worried that the Chinese data this weekend might be on the weak side, and this is adding to risk-off sentiment.

AUD bulls can expect some respite a bit later on when RBA chief Glenn Stevens gives a speech, when he will undoubtedly extol the positive virtues of the Australian economy.


http://www.marketwatch.com/story/japan-revises-gdp-up-but-trade-deficit-widens-2012-06-07


Japan revised its economic growth for the January-March quarter sharply upward to 4.7% from a year earlier, compared to an initial estimate of 4.1% growth, the Cabinet Office said Friday. A less-than-previously reported fall in capital spending helped fuel the revision. On a quarterly basis, gross domestic product grew 1.2%, up from a previous estimate of 1.0%. However, Japan's April balance-of-payments data, released at the same time by the Finance Ministry, came in weaker than expected, as the current-account surplus stood at 333.8 billion yen ($4.2 billion), missing a ¥455.6 billion median forecast reported by Dow Jones Newswires. The trade deficit totaled ¥464 billion, widening 12.6% from a year earlier. Exports rose 11.1% from the year-ago period, while imports climbed 11.2%.