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At the Forex currency market the Australian Dollar rate is being traded upward in the middle of the week for the second consecutive day; on the one hand stable external background and positive sentiment of players encourage purchases, on the other hand, the levels at the beginning of the week are really attractive for the buyers.

Forex forecast: MACD indicator for the pair AUD/USD started to move downward from the signal line in the negative area and is giving a sell signal. Stochastic Oscillator is going up in the neutral zone and is giving a buy signal.

Forex recommendations: in case of breakdown at the level of 1.0190, the pair will go to 1.0200 and 1.02300. The growth is based emotional nature.

Statistics released today showed that leading indicator index Westpac-MI in Australia increased to 282.2 points (+0.4 points) in October. The data reflects the pace of economic activity in the next 3-9 months; index has increased on monthly basis, however it is sliding down on annual basis (2.6% against 2.8% earlier). This is a signal that business activity in the country may decline in the coming months.

As it was noted by Australian Central Bankon Tuesday, the country is fighting off repercussions of European debt crisis with the help of investment boom: minutes of the last meeting of the Reserve Bank of Australia showed that there is no urgent need at the moment in lowering rate and current steps directed to ease monetary policy is sufficient to support economy.

Observers believe that lowering of the rate of RBA in December was just a safeguard against external negative factors.

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. 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. 
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. This data is positive at the moment as current conditions have stabilized; however levels of business confidence are still unvaried. It became known yesterday that trade balance in Australia fell to +A$1.60 billion in October against expectations of +A$2.0 billion. Slump in the global demand has played its part here as well.

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