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At the Forex currency market the Australian Dollar rate is traded downward on Wednesday, as external background remains mixed and advantages of internal news have already been used by investors.

Forex forecast: Earlier MACD indicator for the pair AUD/USD has broken through the signal line from top to bottom and is still traded in the negative area, giving a sell signal. Stochastic Oscillator is going up in the neutral zone and is giving a clear buy signal, approaching overbought zone.

Forex recommendations: off the market.

Feasible event scenario at Forex: in case of breakdown at the level of 0.9950, the pair will go to 0.9940 and 0.9910. If interest in risk rises the pair can go above 1.0000 again.

Fiscal situation in the country is ambiguous: morning statistics showed that lending in the private sector of Australia increased by 0.2% m/m (+3.5% y/y) in October against the forecast of growth of 0.4% m/m. Previous block of statistics demonstrated that leading indicators index CB in Australia increased by 0.1% m/m in September against a previous decline of 0.2% m/m.  Corporate profit and exports of agricultural products were among the main drivers of the increase in the index. New statistics does not cancel downward pressure, and the main reason for this was caused by changes in prices for securities at the stock market.

It became known yesterday that Australian authorities revised forecast for GDP growth in 2012 downward, to 3.5%. Previous forecast was at 3.75%

The head of the Reserve Bank of Australia Mr. Stevens stressed earlier that Europe and its leaders have to hurry up to resolve their problems. According to export statistics, Australia and its economy is seriously affected by the slump in global demand.

Unemployment rate in Australia decreased to 5.2% in October against 5.3% a month earlier. 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.

It also became known that rating agency Fitch upgraded rating on Australia’s obligations in foreign currency to the level of AAA from the previous notch of AA+, for the reason of positive revision of the levels of public debts which are now slightly above 26%.

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