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At the Forex currency market the Australian Dollar rate continues to grow rapidly today.

Forex forecast: MACD indicator for the pair AUD/USD has broken through the signal line from bottom to top and is traded upward, giving a buy signal. Stochastic Oscillator has changed direction and is now going upward in the neutral zone, giving a buy signal.

Forex recommendations: In case of breakdown at the level of 1.0320, the pair will go to 1.0330 and 1.0350.

Statistics released today showed that number of construction permits in Australia increased by 8.4% m/m (-10.0% y/y) in November. Expected rise had been of 7%, therefore the data cheered up the market. Chinese statistics also provided support to the AUD, indicating that exports continue to grow, although growth rate is below expectations.

It became known yesterday that retail sales in Australia showed a zero change in November against the growth of 0.2% m/m in October. In addition, sales of new houses HIA grew by 6.8% m/m in November against revised level of +2.8% m/m in October.

In other respects, macro-economic background in Australia is stable. Unemployment rate increased to 5.3% in November against the forecast of 5.2%.  Employment rate fell by 6 thousand against the growth of 16.8 thousand earlier. Economists expected the the increase of jobs by 10 thousand. The indicator reflects the impact of European debt problems on the Australian economy. Retail sales in Australia increased to the minimum value of +0.2% m/m over 4 months in October. In September the index rose by 0.4%, and by 0.6% in August. It became known earlier that private sector lending in Australia increased by 0.3% m/m (+3.5% y/y) in November against the growth of 0.2% m/m in October. Consumer sentiment index Westpac-MI fell to 94.7 points, -8.3% m/m in December against the value of 103.4 points in November. Business confidence index NAB in Australia increased to 1 point in November against zero level in October. 

According to the data released earlier, business activity index AiG in the service sector of Australia increased to 49.0 points in November against the level of 47.7 points in October. In addition, trade balance amounted to +?$1.38 billion in November against expectations of +?$2.0 billion.

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