Forex news. The sales of new housing have been remaining at the bottom line for more than one decade, which shows that Australians are not eager to spend money in the situation of global financial instability. Review of all building companies around the country shows that the general number of sold houses has increased by only 1.1% in autumn. This follows the 8.0% fall in July, which is the lowest mark since December 2000.
Despite low prices and attractive terms at housing market, the country’s population is unwilling to buy new houses, which is explained by financial weakness of the housing. However, specialists suppose that the current market terms are excellent for those who can afford building a house.
Australian dollar maintains correction motion towards long-term bullish trend at Forex market. The experts of the Department of Masterforex - V Trading System explain that once the currency pair has broken pivot MF, it has started forming bear impulse, which may be reversal. However, stopping at a sloping channel suggests that ascending motion within wave с(С) of Weekly level may continue in the condition of long-term trend. The maximal point at the end of July 1.will form resistance. Breaking a sloping channel may signal about the formation of reversal impulse provided that there is support of АО index. Such index can later start a long-term tendency.
