AUD: Australian Dollar continues to decline on Monday

At the Forex currency market the Australian Dollar rate continues to decline on Monday, being in sale for the third consecutive day.

Forex forecast: MACD indicator is in the positive area for the pair AUD/USD and continues to go up, confirming a previous buy signal for the pair. Stochastic oscillator is giving a pair sell signal today, going down and being in the neutral zone.

Forex recommendations: in case of the breakdown at the level of 1.0100 traders’ targets will be the levels of 1.0080 and 1.0065/50.

It became known today that a number of vacancy announcements in Australia increased by 1.2% m/m in February against the growth by 2.4% m/m in January.
The situation in Australia has remained mostly unchanged.

Interest rate is at the level of 4.75% per annum in Australia now. The meetings of RBA in 2011 will be held on 4 April, 2 May, 6 June, 4 July, 1 August, 5 September, 3 October, 31 October, 5 December. 

GDP in Australia rose by 0.7% q/q (+2.7% y/y) in QIV against the forecast of +0.6% q/q (+2.8% y/y). The economy had been able to strengthen before the flooding that struck the Green Continent, which was followed by tropical cyclone. 

Finance Minister of Australia Mr. Swan described the rate decision as “good news”, clarifying that echoes of disaster can affect the result of QI, while fundamentals in Australia remains steady. In accordance with the RBA, inflation forecast for this year is in the range of 2-3%.

It became known earlier that the level of total lending in Australia increased in January by 3.3% per annum, as per the Reserve Bank of Australia estimates, against expectations of the rise by 3.2%.

 

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