PF: Dollar Rate: US Industrial Sector Stopped Growing
Forex news, dollar rate. On April 17 US Federal Reserve System (FRS) published its monthly industrial production index during March 2012. Expectations of 1.2% growth of US industrial production have not been proved. The index remains at the point of 96.6% for three months in a row.
Growth in mining industry has compensated for slight decline in other spheres.
For several previous months positive economic growth in the USA has been based on industrial production. At this point many economists make expectations about slowdown of growth not only in industrial sector, but economy as a whole, during the first half of current year.
Such views may be supported by delayed start of Quantitative Easing Program and weak records in financial sector of American economy. Thus, the profit of one of the largest financial conglomerates in the USA, Goldman Sachs, has dropped by 23% during the 1st quarter of 2012.
As of April 17 dollar rate is within the flat zone, formed by bullish wave “а(С)/red.С” 79.37-80.34 of H6 level. Experts of Masterforex-V Trading System suppose that the rising trend will continue if point 80.34 is broken and FZR is formed above it. Falling trend will be proved provided that bullish sloping channel is broken, pivot MF 79.44 is broken, and FZR is formed below it.
