All eyes on US CB consumer confidence

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.

Check the economic calendar

push_USD_consumer confidence.jpg

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Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

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Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

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What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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