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At the Forex currency market the Australian Dollar touched new highs today on strong labour market data.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and is continues rising, giving a pair buy signal. Stochastic Oscillator today stays in the overbought zone, giving a similar signal.

Forex recommendations: in case of breakup at the level of 1.0465 the pair will go to today’s high 1.0486 and 1.0500.

A set of macro-statistics was published in Australia today:
– Unemployment rate decreased to 4.9% in March against the preliminary level of 5%;
– Employment increased by 37.8k in March against the forecast of growth by 24k.

Thereby strong labour market data supported aussie, having convinced investors of monetary policy tightening to resume earlier.
As a result of RBA meeting the day before the interest rate was left unchanged at the level of 4.75% per annum the day before – the officials didn’t resolve to tighten monetary policy for the fourth time. The decision was in line with expectations and didn’t evoke markets’ response.

The meetings of RBA in 2011 will be held on 4 April, 2 May, 6 June, 4 July, 1 August, 5 September, 3 October, 31 October, 5 December.
As it became known the day before, Housing finance in Australia fell by 5.6% m/m in February against the decrease by 4.5% in January. According to observers, the main reason for weak housing statistics were floods seen in Australia at the beginning of the year.

Macroeconomic background remained weak earlier: trade balance deficit was recorded for the first time since spring 2010 (-?$205 mln in February against +?$1.4 bln in January). Besides, AiG Performance of Service Index decreased to the level of 46.5 points in March against the level of 48.7 points in February.

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