2012-02-24 11:38:00
At the Forex currency market the Australian Dollar rate is traded upward on Friday, ignoring news which is not too good for Australia.

Forex forecast: MACD indicator for the pair AUD/USD is in the positive area, it goes down and is shaping a sell signal. Stochastic Oscillator suspended its fall in the neutral zone and started to grow, giving a signal for moderate buying.

Forex recommendations: in case of breakdown at the level of 1.0735, the pair will go to 1.0740 и1.0770.

The AUD has ignored this news; however it became known today that rating agency Fitch downgraded rating of three Australian banks: Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.

Representative of RBA Mr. Lowe noted that growth in the sector of business investments can reach around 10%this year. In addition, demand in private sector is also quite high.

Earlier Australian currency has been "knocked down" by domestic political news: investors discuss rumours that the head of Ministry of Foreign Affairs of Australia Mr. Radd will leave his post because of disagreements with Prime-Minister Julia Gillard. Usually the AUD takes political news with no worry.

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.

According to released statistics, index of wages rise has increased by 1.0% on quarterly basis in Q4 against the previous growth of 0.7%. Growth amounted to 3.6% on annual basis. Statistics released earlier showed that lending in the housing sector of Australia rose by2.4% 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. 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.