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AUD: Australian Dollar is waiting for catalysts
The Australian Dollar rate is traded slightly downward at the Forex currency market today, there is no activity in the pair AUD/USD, as investors are waiting forex ternal signals.
Forex forecast: MACD indicator for the pair AUD/USD is going up in the positive area, giving a buy signal. Stochastic Oscillator is also rising up in the neutral zone, also giving a buy signal.
Forex recommendations: In case of breakdown at the level of1.0300, the pair will go to 1.0310 and 1.0330. There is a high possibility that aggressive sellers will be back in the pair.
Meanwhile, markets' attention is now drawn to Europe where a meeting of the European Central Bank and a meeting of the Bank of England will be held today, as well as a number of auctions of the European countries.
According to the data released earlier, business activity index AiG in the service sector of Australia increased to49.0 points in November against the level of 47.7 points in October. In addition, trade balance amounted to +?$1.38 billion in November against expectations of +?$2.0 billion.
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. Economists expected the increase of jobs by 10 thousand. The indicator reflects the impact of European debt problems on the Australian economy. It became known earlier that private sector lending in Australia increased by 0.3% m/m (+3.5% y/y) in November against the growth of 0.2% m/m in October. Consumer sentiment index Westpac-MI fell to 94.7points, -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.
Statistics released today showed that number of construction permits in Australia increased by 8.4% m/m (-10.0% y/y) in November. Expected rise had been of 7%. Retail sales showed a zero change in November against the growth of 0.2% m/m in October. In addition, sales of new houses HIA grew by 6.8% m/m in November against revised level of +2.8% m/m in October.
