The sentiments of the US construction companies have recently declined down to the lowest value over the last 10 months. The companies’ management feels pessimistic about sales perspectives. In May the NAHB index unexpectedly declined from 16 down to 13. This was the biggest decline of the year. A survey involving over 50 construction companies shows that the business conditions in the country are unfavorable.
There are many homes for sale. However, the high level of unemployment and growing consumer prices do not favor an increase in home sales. Some experts say the low amount of home sales is caused by the economic slowdown currently seen in the country. According to them, it is necessary to stimulate economic growth in order to increase the demand in the housing market.
The USD index (DX) keeps retracing against the long-term downtrend. According to the experts of the Department of Masterforex-V trading system , the retracement is of wave level H2.
On overcoming the resistance level at 76,54 the price will form a FZR of Daily 2. The following upward retracement will be of the same wave level. The downtrend can be resumed only after breaking below the MF pivot and sloping channel.
