According to Thomson Reuters and the University of Michigan, the US consumer sentiment is current around its 3-month high - 74,3 points. At the same time, the economic sentiment index has reached the highest level since 2008 – 88.7 points.
The experts say that US households have reduced their debts and are willing to spend more. However, US citizen seem to distrust politicians’ promises about a brighter future for the USA.
Moreover, economic stats hint that QE3 is round the corner. According to Bill Gross, CEO of PIMCO, says this may happen within a couple of weeks. However, the Fed Reserve’s money-printing press won’t improve the situation in the US labor market.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of the US Dollar index. The currency pair is forming a downswing represented by wave а(С)/С of level Daily started t 82,96. The closest levels of support are 80,7 and 79,97. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 82,77 (as shown below).
