2012-02-22 11:27:00

At the Forex currency market the Australian Dollar rate has slightly increased at trades in the middle of the week, after the decline this morning.

Forex forecast: MACD indicator for the pair AUD/USD is in the positive area, it started to go down and is shaping a sell signal. Stochastic Oscillator goes down in the neutral zone andis giving a similar signal.

Forex recommendations: in case of breakdown at the level of 1.0670, the pair will go to 1.0660 and 1.0640.

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.

Minutes of the last meeting ofthe Reserve Bank of Australia, which were released yesterday, were neutral. The document said that the threat of disorderly default in Greece represents the major downward risk and current monetary policy conforms to macro-economic expectations. Issue of rate level has not been considered. GDP growth seems tobe close to two-year trend.

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. 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, upto 51.6 points, as per AI GROUP estimates. Aggregate activity index Aig in theservice sector increased to 51.9 points in January (+2.9 points) against growthof 1.3 points a month earlier. The index has been growing for the third monthin a row, while major growth in activity is associated with households.Nevertheless, AiG noted in the comments, that revival in the index is evidentonly in three out of nine components.

Statistics released last week 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 ofthe national currency have beneficial effect on the economy. 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.

AUD: Australian Dollar remains under pressure