07 March 09:43 AM
Forex news, dollar rate. Strengthening of dollar that has lasted for five days signals about fundamental problems awaiting for global economy. US stock market keeps declining for three day in a row.
At the beginning of the week China lowered its prediction of this year’s GDP growth to 7.5%, and on March 06 Reserve Bank of Australia (RBA) worsened its predictions about the development of global economy. Today it was also reported that European loss from Greek default will amount to 1 trn. euro. As a result, investors doubted about the perspectives of global economy, and demand for dollar has risen.
Let us remind that at the end of last week Ben Bernanke, the head of US FRS, expressed an idea that there is no urgent need to start the quantitative easing program Q3 in the nearest future.
According to the experts of Мasterforex-V Trading System, dollar rate is within impulse wave "a(С)/C" of H4 level. Resistance is provided by target points 80.00 and 80.23. In order to change bullish trend sloping channel MF and bearish pivot MF 79.35 are to be passed, and FZR formed.
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Apparently, the global economy is currently having a hard time recovering and growing, especially amid global economic, political and financial instability coupled with crises and recessions. Daily stresses and risks, info wars, rules and regulations imposed by financial watchdogs and rating agencies…
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The dollar succumbed to a week by 0.97 % against the pound, finishing the exchanging session on Friday close to 1.6729. The dollar essentially debilitated against most monetary forms on Forex on the base of the negative state of mind towards them by business sector members because of arrival of a generally powerless financial investigates Friday, on the fourth of April. In the meantime, the development of the pound to the dollar is upheld by solid financial information discharged in the UK. Exchanging week finished on the 7-11 of April, and Forex brokers abridged their exercises.