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On August 15, 1971, the United States of America unilaterally declared of canceling of direct convertibility of its national currency to gold. It finished an epoch of Bretton Woods currency system, US dollar rate started floating and gold turned into independent asset. This event is known in the history as Nixon Shock, because despite of being long-expected, it was a total shock for the most part of countries. The world required several years from then on to develop and launch new rules for international trading.
Popular article: Building Permits Report
This fundamental indicator of the USA slightly influences on the Forex market and is seasonal, however it can serve as supplementary. Macroeconomic index Building permits is collected on the basis of data from 19 000 enterprises issuing those permits. Basically this indicator is anticipating, because it preliminarily shows solvency of people. In addition, the number of permits allows judging about forthcoming unemployment level. If there are more permits than for the previous period, this economic sector will need employees, therefore, unemployment level can drop down.
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