By FX Empire.com
The Australian dollar swings between gains and losses amid the rising European debt fears, where Aussie recovered slightly on news of a coalition government in Greece that will finalize the agreement on the second bailout yet the tension remains evident with the continued instability in Greece and also Italy.
The Australian currency started the week with a decline against the greenback on speculation that European debt crisis is worsening and affecting the Italian economy, damping the demand of riskier currencies.
Aussie declined slightly after a private report showed job notices fell in October for a fourth-straight month, while employment data this week is forecasted to show the jobless rate rose to 5.3 percent in October from 5.2 percent the previous month.
On Tuesday at 23:30 GMT (Monday) Australia will release the Trade Balance for September, where it’s expected to show a surplus of A$ 3000 million compared to the previous A$3100 million surplus.
NAB Business Confidence for October will be released at the same time, where it had a previous reading of -2, while the previous reading for NAB Business Conditions was 2.
Originally posted here
