AUD: Australian Dollar determines movement direction

At the Forex currency market the Australian Dollar rate stands still on Thursday, determining movement direction after intensiveswinging into both directions.

Forex forecast: MACD indicator is in the negative area for the pair AUD/USD and goes down giving a pair sell signal. Stochastic Oscillator is giving a pair buy signal, being in the neutral zone.

Forex recommendations: off the market.

Feasible event scenario at Forex: if the level of 0.9960 is exceeded the pair will go to the parity level of 1.0000 and 1.0040. If the level of 0.9930 is broken down, traders’ targets will become the levels of 0.9900 and 0.9880.

The following Australian data was released today:

– Unemployment rate in December: 5.0% against 5.2% in November;

– Employment rate in December:: +2 300, to 11.417 million.

It is worth noting that number of newly created jobs was less than analytics had expected. Meanwhile unemployment rate is now at the lows since January, 2009. It is not excluded that in the current realities in Australia many people just refused to look for a job. Thus, market received another confirmation that in QI this year interest rate in Australia will remain unchanged. Interest rate in Australia is at the level of 4.75% per annum. RBA meetings in 2011 are scheduled for: 31 January, 28 February, 4 April, 2 may, 6 June, 4 July, 1 August, 5 September, 3 October, 31 October, 5 December.

Meanwhile, natural disaster still remains the main negative factor for Australian economy and Australian Dollar rate. Flooding started in the North East part of Australia and in Queensland and is now threatens to be the largest in the last 50 years. It is obvious now that the flooding is spreading to the South, to the area of Breesban, the third largest city of Australia. 95% of sugar production of Australia is concentrated in Queensland, as well as large amounts of coal. In general, about 20% of the entire economy of the Green Continent is located in the state of Queensland. According to various estimates, the growth of Australian economy can slow down by 0.2% in QI 2011, due to natural disasters.