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• Rouble is losing positions again in pairing with USD and EUR [11/10/2011]
• NZD: New Zealand Dollar is descending [11/10/2011]
• AUD: sales of Australian Dollar do not subside [11/10/2011]
• JPY: Japanese Yen remains in the narrow trade range [11/10/2011]

AUD: Purchase of Australian Dollar has been observed since the beginning of the week

At the Forex currency market the Australian Dollar rate continues to demonstrate intention to grow on Tuesday.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and it continues to go up, confirming a pair buy signal. Stochastic Oscillator is giving a similar signal, being in the neutral zone.

Forex recommendations: if consumer interest will be maintained, buyers’ targets will be the levels of 1.0000 and 1.0030.

In general monetary policy according to RBA estimates can be regarded as moderately restrictive.

The minutes also emphasized that households can still keep spending in check and in this case it will lead to short term rise in inflation and to a lack of aggregate demand in economy.
Interest rate in Australia is now at the level of 4.75%per annum.

External news put pressure on the AUD yesterday; it became known that South Korea began shooting near the island of Yeonpyeong. According to the press, guns volleys have been heard there. We would remind that DPRK has repeatedly stressed that if South Korea would conduct military exercise on Yeonpyeong, the country would open fire on the island in “self-defence”.  However, as soon as North Korea stressed that it will not react to provocation, the AUD started to rise.

We would remind that according to the statistics released earlier, GDP in Australia increased by 0.2% on quarterly basis in QIII; while analytics had expected the rise by 0.5%; the growth over last quarter positioned as the lowest over the last two years, therefore GDP dynamics seems to be descending. It became known earlier that retail sales in October amounted to-1.1% m/m against +0.1% in September and trade balance surplus in October was $2.625 billion. It also became known earlier that current account balance amounted to -?$7.83 billion in QIII against the forecast of -?$6.60 billion.
 

 

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