US Initial jobless claims will be announced on Thursday at 15:30 MT time.
All eyes on US CB consumer confidence
The report will be out on August 25 at 17:00 MT time!
Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD
The consumer confidence has direct influence on consumer spending, which, in turn, plays the key role in the overall economic activity. The last report for July came out worse than analysts expected. It turned out 92.6, while the forecast was 94.5. That was obviously the coronavirus effect. New virus cases rose steadily during that time. However, these days things have changed. The infections’ curve is declining. In addition, other economic indicators showed that the economy is rebounding and people are getting back to work. However, we can’t be absolutely confident what the report will bring. Don’t miss the USD move!
- If the US consumer confidence is better than the forecasts, the USD will rise.
- Otherwise – fall.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!