According to Bloomberg the U.S. consumer confidence declined from 10-week high. The Americans feel gloomy about the country’s economy and finances.
The Bloomberg Consumer Comfort Index is still low (45,5pts).
According to the recent survey made by Bloomberg, 54% of the respondents say their financial condition is either “poor” or “not so good”. No wonder, if to consider high unemployment (over 9%), declining housing prices and restrained income growth. Despite the fact that last week the U.S. stock market gained a little while gasoline prices declined, American consumers still were not optimistic about the U.S. economic perspectives. If the situation continues, there probably won’t be any increase in consumer spending.
USD perspectives:
The US Dollar continues its upward retracement on Daily 2 chart against the basket of major currencies. The experts of the Department of Masterforex-V TS say that the USD index broke the MF pivot and stopped around the sloping channel (as shown in the picture below). The AO prompts the formation of bullish sub-wave c(C ). A FZR (crossing 76.45) is needed to confirm this. The upward scenario is canceled as soon as the mentioned sloping channel is broken below, thus forming a potentially reversal downswing along the major downtrend.
