Forex Blog
Blog-FX.Com

At the Forex currency market the Australian Dollar rate is going down on Monday due to decline in investors' interest to risky positions, caused by the flow of negative European news.

Forex forecast: MACD indicator for the pair AUD/USD is going up in the positive area, giving a buy signal. Stochastic Oscillator started to decline shifting from sideways movement in the neutral zone and shaping a moderate sell signal.

Forex recommendations: In case of breakdown at the level of 1.0290, the pair will go to 1.0280 ? 1.0270.

Statistics released today showed that mortgage lending in Australia increased by 1.4% m/m in November against the growth of 0.8% in October, which is a positive indicator.

It is interesting that the AUD did not fall too low on the surge of general sales which are of emotional nature. It is possible that this is an indication of stability in the currency and its positive prospects for the future.

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.

Statistics released earlier 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.

Consumer sentiment index Westpac-MI fell to94.7 points, -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. 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.

Tags: