Alex Bobrov
Forex news, dollar rate. US Federal Reserve System is ready to buy mortgage bonds in order to stimulate economy. 16 out of 21 dealers questioned by Bloomberg suppose that the QE program will start already during the 1st quarter of 2012, and its size will amount to $545 bln.
Residential property market keeps having a negative impact on the development of American economy. The average cost of residential property at secondary market has dropped by 5% in comparison to last year.
It is worth mentioning that the five leaders who have no expectations from the FRS to take any measures for economic stimulation include JP Morgan, Barclays Plc, Deutsche Bank, Citigroup Inc, and UBS AG.
The Federal Reserve System itself does not have a common view on the nearest future. Those of its members who doubt about economic recovery in America have raised the issue of easing monetary policy.
Dollar rate maintains within sub-wave С(С) of long-term bullish wave А/В. According to the experts of the Department of Masterforex-V Trading System , the upswing will be strong when sloping channel MF and pivot MF 77.74 are passed. Dollar arte will get more steady when the local maximum of 79.88 is passed; it will then form the 5th sub-wave as a part of С(С) or wave А as a part of Elder’s Hound/MF. Pivot MF 79.98 and long-term maximum of 80.43, mentioned in the overview dated November 29, 2011, remain the closest significant levels of resistance.
Alex Bobrov
