2012-02-16 11:40:00
At the Forex currency market the Australian Dollar rate is traded slightly downward on Thursday, as market interest to risky assets is low today. On the other hand, strong statistics prevents the AUD from the surge of sales.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD, while volumes are high; however the indicator started to go down and is shaping a sell signal. Stochastic Oscillator has reversed in the neutral zone and is going down again, giving a sell signal.

Forex recommendations: in case if breakdown at the level of 1.0670, the pair will go to 1.0660 and 1.0630.

Statistics released today was positive: unemployment rate in Australia fell to 5.1% in January against 5.2% in December and the forecast of 5.3%. However, according to RBA deputy head, the rise in unemployment rate is not excluded in the coming months due to external influence. He also noted that the rise in investments and high rate of the national currency have beneficial effect on the economy.

Yesterday's statistics was also positive for the AUD: consumer confidence index Westpac increased to 101.1 points in February against the level of 97.1 points in January, which is a good signal.

Retail sales fell by 0.1% m/m in December against the forecast of growth by 0.2%. According to statistics released earlier, activity index in the manufacturing sector rose by 1.4% in January, up to 51.6 points, as per AI GROUP estimates. Aggregate activity index Aig in the service sector increased to 51.9 points in January (+2.9 points) against growth of 1.3 points a month earlier. The index has been growing for the third month in a row, while major growth in activity is associated with households. Nevertheless, AiG noted in the comments, that revival in the index is evident only in three out of nine components.

Statistics released earlier showed that lending in the housing sector of Australia rose by 2.4% in December against the forecast of growth of 1.8%. Statistics supported the currency.

Inflation in the country showed zero growth in Q4 against the forecast of growth of 0.4% on quarterly basis. Consumer sentiment index Westpac-MI fell to 94.7 points, -8.3% m/m in December against the value of 103.4 points in November.