How to trade after US Consumer Confidence?

How to trade after US Consumer Confidence?

The report will be out on Tuesday at 17:00 MT time!

Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD

The US CB consumer confidence simply shows how much money people intend to spend these days buying goods and services. The more people consume – the more products are sold. As a result, an economy prospers. Obviously, people are going to buy less and save more amid the coronavirus pandemic, especially now when the second virus wave has engulfed most of the US states. The market reaction depends on whether actual numbers exceed expectations or not. It is so good that traders have an opportunity to open both buy and sell positions. October’s report revealed that people were going to spend less than analysts expected, that’s why the USD dropped. Remember the rules below and follow the release!

  • If consumer confidence is greater than expected, the USD will rise.
  • Otherwise – fall.

Check the economic calendar

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Strong USD on Tuesday
Strong USD on Tuesday

The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.

Latest news

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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