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At the Forex currency market the Australian Dollar rate is traded downward on Monday, because investors’ interest in risk has dropped.

Forex forecast: MACD indicator remains in the negative area for the pair AUD/USD, and is growing, giving a buy signal, while volumes are still insignificant. Stochastic Oscillator goes down in the neutral zone, giving a sell signal.

Forex recommendations: in case of breakdown at the level of 1.0550, the pair will go to 1.0520 and 1.0510. If downward breakdown does not take place, the pair will consolidate at the current levels.

According to the data released today, macro-economic situation in Australia remains mixed. On the one hand, activity index in the service sector AIG/CBA in Australia increased by 3.3 points, to the level of 52.1 points. On the other hand, number of vacancy announcements ANZ in Australia fell by 0.6% m/m in August against similar decline in July.

At the same time, consumer lending in Australia increased by 0.2% m/m in July versus the fall of 0.1% in June. Number of permits to construct in Australia increased by 1.0% m/m in July against the decline of 3.6% m/m in June; Although it is a good indication, it is too early to speak about tendency.

Leading indicators index Westpac in Australia increased by 0.2% m/m (+1.6% y/y) in June against the growth of 3.0% y/y in May. However, the rate of decline in the index is minimal, considering that the index has been steadily decreasing since 2010. This index indicates prospects for economic activity for the next 3-9 months and judging by its dynamics, rapid growth can be hardly expected.

It became known earlier that price index for corporate services in Australia remains unchanged on monthly basis, -0.5% y/y in July against the level of -0.8% y/y in June. In addition, index of leading indicators Conference Board in Australia fell to -0.8% in June; while a month earlier it had amounted to -0.1%.

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