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AUD: Australian Dollar still tends to rise
At the Forex currency market the Australian Dollar rate continues to strengthen on Friday despite "wait and see" attitude of investors at the end of the week.
Forex forecast: MACD indicator is in the positive area for the pair AUD/USD, while volumes are high; the indicator started to go down and is shaping a sell signal. Stochastic Oscillator has reversed in the neutral zone and is going up, giving a buy signal.
Forex recommendations: in case if breakdown at the level of 1.0775, the pair will go to 1.0780 and 1.0795.
The AUD is still one of the most stable currencies at Forex, largely due to the state of affairs in the national economy.
Statistics was positive this week: unemployment rate in Australia fell to 5.1% in January against 5.2% in December and the forecast of 5.3%. However, according to RBA deputy head, the rise in unemployment rate is not excluded in the coming months due to external influence. He also noted that the rise in investments and high rate of thenational currency have beneficial effect on the economy. Consumer confidence index Westpac increased to 101.1 points in February against the level of 97.1points in January, which is a good signal.
Retail sales fell by 0.1% m/m in December against the forecast of growth by 0.2%. According to statistics released earlier, activity index in the manufacturing sector rose by 1.4% in January, upto 51.6 points, as per AI GROUP estimates. Aggregate activity index Aig in the service sector increased to 51.9 points in January (+2.9 points) against growth of 1.3 points a month earlier. The index has been growing for the third monthin a row, while major growth in activity is associated with households. Nevertheless, AiG noted in the comments, that revival in the index is evidentonly in three out of nine components. Inflation in the country showed zerogrowth in Q4 against the forecast of growth of 0.4% on quarterly basis.Consumer sentiment index Westpac-MI fell to 94.7 points, -8.3% m/m in Decemberagainst the value of 103.4 points in November. Statistics released earlier showed that lending in the housing sector of Australia rose by 2.4% in Decemberagainst the forecast of growth of 1.8%. Statistics supported the currency.
