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Atthe Forex currency market the Australian Dollar rate is traded upward, since investors’sentiment in the global capital markets makes it possible to show interest tohigh- risk assets. 

Forexforecast: MACD indicator for the pair AUD/USD has broken through the signal line from top tobottom and is traded upward, giving a buy signal. Stochastic Oscillator isgoing up in the overbought zone and is maintaining a buy signal.

Forex recommendations: in case of breakdownat the level of 1.0370, the pair will go to 1.0380 and 1.0410. 

Macro-economic calendar of Australia will beuneventful until Thursday when the data on the trade balance, imports andexports will be presented.

It was noted by Australian Central Bank thisweek, that the country has been fighting against repercussions of European debtcrisis with the help of investment boom: minutes of the last meeting of theReserve Bank of Australia showed that there is no urgent need at the moment inlowering rate and current steps directed to ease monetary policy is sufficientto support economy. 

Observers believe that lowering of the rateby RBA in December was just a safeguard against external negative factors. 

Consumer sentiment index Westpac-MI fell to94.7 points, -8.3% m/m in December against the value of 103.4 points inNovember. Business confidence index NAB in Australia increased to 1 point inNovember against zero level in October. This data is positive at the moment ascurrent conditions have stabilized; however levels of business confidence arestill unvaried. It became known earlier that trade balance in Australia fell to+A$1.60 billion in October against expectations of +A$2.0 billion. Slump in theglobal demand has played its part here as well.

Unemployment rate increased to 5.3% inNovember against the forecast of 5.2%.  Employment rate fell by 6 thousandagainst the growth of 16.8 thousand earlier. The indicator reflects the impactof European debt problems on the Australian economy. Retail sales in Australiaincreased to the minimum value of +0.2% m/m over 4 months in October. InSeptember the index rose by 0.4%, and by 0.6% in August. 

It became known earlier that private sectorlending in Australia increased by 0.3% m/m (+3.5% y/y) in November against thegrowth of 0.2% m/m in October.

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