Forex news. US senators have abolished the plan of American President Barack Obama, which is targeted at fighting unemployment by implementing tax incentives for the population and building out US infrastructure.
According to the program, certain population groups were supposed to benefit from tax burden shortage and incentives that amount to 270 bln. dollars. The government was also supposed to spend 175 bln. dollars on infrastructure development. According to experts, adopting such plan would have risen the country’s GDP by 0.6% and cut unemployment by 0.2% in 2012.
However, this plan was refused, having received 48 votes against. Although the vote results have not been officially recognized due to the absence of some senators, this number of votes is already enough to reject the plan: according to valid legislation, in order to adopt President’s projects, 60 out of 100 senators are to support it.
The price of dollar index future is forming a bear wave А/В of upper wave level, according to the experts of the Department of Masterforex-V Trading System . This bear motion has currently stopped at 38.2% of Fibonacci. Further flow of events will be connected with passing the top or the bottom line of the flat that is being formed. Passing the top line of the flat, 80.47, will signal about the start of short-term wave А or а(С) within the authors figure “Elder/MF Hound of the Baskervilles”, whereas downward bear FZR will signal about the start of Daily level bear wave, whose nearest support will be provided at the point of 77.01.
