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The Australian Dollar rate continues to decline at the Forex currency market on Thursday; sales were triggered by weak   employment statistics.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and continues to decline, giving a pair sell signal, while the trading volumes are slightly above the average. Stochastic Oscillator goes down in the neutral zone, giving a similar signal.

 Forex recommendations: in case of breakdown at 1.0600 the pair will go to 1.0585 and 1.0570.

The following Australian data was released today:

– Change in the employment rate in April amounted to -22.1 thousand compared to +37.8 thousand in March;

– Unemployment rate remained unchanged, at the level of 4.9% 

Market did not expect such an unpleasant surprise from employment sector, which along with the investors’ risk aversion in the market encouraged ongoing sales of the AUD.

Statistics released earlier showed that trade balance in Australia rose to A$1.74 billion in March against the level of -A$0.08 billion in February and Moody's Investors Service agency gave positive assessment to the data; according to observers of the agency, resolution of the authorities to revert the balance of the state budget to the zone of surplus is well-founded and such attitude supports credit rating of the country, which is at Aaa.

Note that the rise in the indicator was caused by the growth of exports in iron ore and coal and also reduction of gasoline imports.

As it was made public last week, CPI in Australia increased by 1.6% on quarterly basis (+3.3% y/y) in QI. Therefore, inflation in the Green Continent has reached five-year highs; natural disasters have triggered the rise in costs for food and other consumption goods for people. In addition, commodity prices at the global markets remain high, because tension in the Middle East does not abate. RBA expects that net CPI will reach 3% against predicted 2.75% by the end of this year.

Exports increased by 9%, to A$25 billion in March; import rose by 1%. It became known earlier that index of import prices increased by 0.9% on quarterly basis in QI. Index of leading indicators rose by 4.7% y/y in March against the rise by 4.8% in February. It is a good result taking into account that the Reserve Bank of Australia has been keeping interest rate unchanged for a long time.

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