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At the Forex currency market the Australian Dollar rate is traded upward on Monday, external background gave a chance to the oversold currency to regain part of its losses.

Forex forecast: Earlier MACD indicator for the pair AUD/USD has broken through the signal line from top to bottom and is still traded in the negative area, giving a sell signal. Stochastic Oscillator tends to go way from the oversold zone and started to shape a buy signal.

Forex recommendations: in case of breakdown at the level of 0.9855, the pair will go to 0.9870 and 0.9890.

Macro-economic background in Australia remains unchanged.

The head of the Reserve Bank of Australia Mr. Stevens stressed earlier that Europe and its leaders have to hurry up to resolve their problems. According to export statistics, Australia and its economy is seriously affected by the slump in global demand

The data released earlier showed that leading indicators index CB in Australia increased by 0.1% m/m in September against a previous decline of 0.2% m/m.  Corporate profit and exports of agricultural products were among the main drivers of the increase in the index. New statistics does not cancel downward pressure, and the main reason for this was caused by changes in prices for securities at the stock market.

According to statistics released earlier, index of leading indicators Westpac in Australia fell by 0.3% m/m in September against 0.8% m/m a month earlier. It is not surprising if we take into to account strong influence of the situation in Eurozone and China on the Australian economy. According to statistics released earlier, consumer sentiments Westpac in Australia increased by 6.3% m/m in November, to the level of 103.4 points. According to the monetary politician Evans the level of the indicator has been at the highs since May 2011 which shall not prevent RBA from lowering the rate once again at the meeting in February.

Unemployment rate in Australia decreased to 5.2% in October against 5.3% a month earlier. Business confidence NAB increased to 2 points in October against preliminary level of -1 points. According to NAB, the growth has been triggered by expectations that the Reserve Bank of Australia will continue to soften monetary policy in the future. It is interesting that business confidence NAB in Q3 amounted to -4 points in Q3; while the index had been at the level of +5 points in Q2. According to estimates of the observers, the level of employment, sales and corporate profit in the country has dropped considerably.

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