Forex news, US dollar rate. This May the volume of industrial orders in the US has risen by 0.7% in comparison to previous month. Such data was published by US Department of Commerce on July 03. Analysts, though, have predicted this figure to increase only by 0.1% on a monthly basis. This factor has shown growth for the first time in last 3 months.
This April the volume of orders have dropped by 0.6%. US export drops due to crisis in Europe and economic recession in Asia. Investments, which used to be the backbone of American economy, neither bring any support to the country’s economy.
Except for transport orders, industrial orders have risen by 0.4% in May, in comparison to April, with defense orders having risen by 0.5%. Transport orders have also risen for the first time in last 3 month, with the increase amounting to 1.3%.
Since the beginning of the week US dollar rate has remained within the flat formed by Daily bullish wave A/B 81.39-83.08. Significant resistance is provided by sloping channel MF and pivot MF 83.06, which has broken above FZR and formed a rising trend above it. For the mid-term trend to change, pivot 81.65 is to be broken and reversal FZR formed below, as supposed by the experts of Masterforex-V Trading System .
