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 At the Forex currency market the Australian Dollar rate continues to soar up, taking advantage of opportunity while the USD remains under pressure.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD, it goes up, giving a buy signal. Stochastic Oscillator has reached overbought zone and maintains a buy signal.

Forex recommendations: in case of breakdown at the level of 1.0930 the pair will go to 1.0945 and 1.0960.

If upward breakdown does not take place, the pair will consolidate close o the current levels.It became known today that leading indicators index Conference Board fell by 0.1% m/m in May against the growth of 0.1% in April. The main driver for the growth of the AUD is weakness of the USD today.PPI index in Australia increased by 0.8% on quarterly basis in Q2 against the growth of 1.2% in Q1It was made public last week that business confidence NAB in Australia amounted to +6 points in Q2 against the prior value of +11 points.

At the same time index of current conditions rose by 3 points against preliminary +2 points and assessment of business conditions in the three-month term increased by 10 points (forecast had been the growth of 15 points). According to the NAB estimates the gap between strong and weak sectors of Australia is reaching historic maximum and reminds of the situation in 2000 when slowdown occurred in the weak links of the economic chain.It is worth noting that business conditions index in Australia increased by 2 points in July, as per NAB estimates, against zero value in May. At the same time, business confidence index NAB amounted to 0 points against the level of +6 points in May, and GDP forecast for the fiscal year of 2011-2012 had been reduced to 1.7%.

As it became known earlier leading indicator in Australia fell by 0.3 points in June, to the level of 279.5 points, as per Westpac estimates. Import price index in Australia rose by 0.8% in Q2 against the forecast of -1.1%. At the same time, export price increased by 6.0% in Q2 against the forecast of +4.5%. Growth in exports last quarter was attributed largely due to the rise in exports of lubricants, mineral oil and also related materials.

This week investors will be waiting for the publication of the CPI index in Q2 on Wednesday and also the data on the volume of lending in the private sector on Friday.  

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