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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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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