Forex news, dollar rate. Yesterday evening it was informed that in March owners of independent businesses in the USA have become less confident about their future. Rising inflation and smaller domestic demand have stopped optimistic ideas typical of American economy for the last six months.
According to yesterday’s information from the National Federation of Independent Business (NFIB), index of optimism in this sector has dropped to 92.5 points versus 94.3 points in February. It is worth mentioning that this decline is the first to follow the six-month growth.
NFIB report brought no optimism to investors, especially taking into consideration discussions about steady economic recovery. Let us remind that 120000 new jobs were created in March – much less than expected by experts.
According to information from NFIB, 21% of US independent business representatives are expecting prices to rise in the nearest future. Last months’ positive tendencies seem to lose their strength.
Taking into consideration the index constituents, ease of doing business index has dropped by 2% for last six months, to 8% in March, and index of concurrent conditions has dropped by 4%, to -23%. Trading stocks index was the only constituent to show growth.
The Analytics Team of Masterforex-V Trading Academy explained forex market situation with dollar index:
- А/В n8 up of higher TF 1.6450-1.6659 is over (NK broken), downtrend
- downtrend – ТО (В) 1.6639
- а(С)/red.С down
- bullish NK 1.6450/1.6567 and bearish 1.6659/39
