According to Thomson Reuters, in Oct 2011 the US consumer sentiment index reached 60.9 points. In Nov it increased up to 64.1 points, the highest value since June. The forecast was 65 pts.
The respondents were reassured by lower gas prices but concerned by volatile stock markets.
The US consumer sending index gained 0.1% while the personal income was 0.4% higher. The personal saving index increased by 0.2% up to 3.5% of the net income.
The US Dollar index keeps strengthening and hitting the targets suggested in yesterday’s outlook. The index is still forming wave C(C ) inside the long-term upswing A/B. The closest levels of resistance are 79.98 and 80.43. According to the Department of Masterforex-V Trading System , underline the importance of the MF pivot 79.98: once it is broken, the upward scenario (wave B) will be cancelled, thus allowing us to consider wave A(C ) or shortened C of the senior timeframe. The rally is defended by the MF sloping channel and the MF pivot 77.74. Once they are broken, the rally will be completed.
