Advertisement

Last Articles

Last News

AUD: Sales of Australian Dollar are still going on at the end of the week

At the Forex currency market the Australian Dollar rate is traded slightly downward on Friday keeping on dynamics prevailing in the middle of the week.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and is moving down, giving a sell signal. Stochastic Oscillator continues to go down in the neutral zone, giving a similar signal and approaching oversold zone.

Forex recommendations: in case of breakdown at the level of 1.0110, the pair will go to 1.0090 and 1.0070.  If downward breakdown does not take place, the pair will consolidate at the current levels.

As per the estimates of the Treasury of Australia, the Asia-Pacific region is much stronger than Europe and the USA. It is important to understand that growth of Asian economies can be not linked with Europe. According to the Treasury, Australia has all chances to change current course of monetary policy if it will be necessary.

According to the comments of Mr. Lowe, the head of RBA, serious threat to the future of the EU has faded away and world economic conditions are favourable for the development of agriculture in Australia. He believes that domestic demand of Asia is growing up at a good pace and floating rate of the AUD positively affects the cost of raw materials in the agricultural sector.

Business confidence NAB increased to 2 points in October against preliminary level of -1 points. According to NAB, the growth has been triggered by expectations that the Reserve Bank of Australia will continue to soften monetary policy in the future. It is interesting that business confidence NAB in Q3 amounted to -4 points in Q3; while the index had been at the level of +5 points in Q2. According to estimates of the observers, the level of employment, sales and corporate profit in the country has dropped considerably.

According to the data released yesterday, unemployment rate in Australia declined to 5.2% in October against 5.3% a month earlier. As it became known earlier, consumer sentiment WESTPAC in Australia increased by 6.3% m/m in November, to the level of 103.4 points. According to monetary politician Evans, indicator is now at the highest level since May 2011, however this shall not stop RBA from lowering the rate again at the meeting in February.

 

 

[More]

Tags: