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At the Forex currency marketthe Australian Dollar rate almost stands still on Friday after two-day ofintensive growth.

Forex forecast: MACD indicatoris in the negative area for the pair AUD/USD, however it is going up,maintaining a buy signal; volumes are increasing. Stochastic Oscillator isstill going down in the neutral zone, giving a sell signal.

Forex recommendations: in caseof breakdown at the level of 1.0780, thepair will go to 1.0800 and 1.0820. In case of profittaking the pair can sag to 1.0720.

The economic situation inAustralia remains almost unchanged this morning.

At the meeting of the ReserveBank of Australia yesterday the decision was made to leave interest rate atprevious level of 4.75% per annum and according to the comments of the regulator,moderately restrictive monetary policy is consistent with the actualsituation. According to the RBA, the base rate will rise very graduallyand economic growth in 2011 will be slower than expected. Stevens, the head ofthe RBA has said in the accompanying statement that Australian economy isgradually recovering after natural disasters, while European debt problemsinterfere with the process.

Market expected that Stevenswould drop a hint at the time when the rate would be raised, however it did nothappen. As per the RBA estimates, employment sector of Australia is in thestable state, unemployment rate is described as moderate lately, although ithas not affected unemployment rate, which remains at the level of 5%.

Vice president of the ReserveBank of Australia Mr. Low, stressed earlier that special efforts are requiredto maintain low and stable level of inflation. According to him previous growthof CPI was attributed mostly to the external factors and influence of thecurrencies’ exchange rates was insignificant.

He also noted that very littleunused spare capacity is left in the economy, and the upward pressure oninflation was caused by such facts as labour costs and growing prices forutilities.

The AUD had found the lastcatalyst with the help of statistics: employment rate in the country isrecovering quicker than predicted in June: (+15 thousand); mainly due to arecord number of jobs (the highest level over three years). This statisticspartly relieves concerns about potential slowdown of the economic growth in Australia. 

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