US Initial jobless claims will be announced on Thursday at 15:30 MT time.
USD: are American consumers confident enough?
CB Consumer Confidence index will be announced at 17:00 MT time on Tuesday.
Instruments to trade: EUR/USD, USD/GBP, AUD/USD, USD/JPY
These days don’t seem too eventful in terms of planned economic meetings or announcements on the global scale. That’s good: it gives us time to look at many other indicators, apart from the usual labor statistics, inflation, and interest rates. One of these is consumer confidence. Although it does not move the currency prices as intensely as the primary indicators do, it may still have its effect if it significantly deviates from expected levels. CB Consumer Confidence index is a summary of a questionnaire done with 5000 households. They inform on the economic outlook, current conditions, spending, and business environment. If the indicator overshoots the forecast, it supports the national currency. Hence, we are yet to see how confident the US consumers are about their country’s economy.
- If CB Consumer Confidence index outperforms the forecasts, the USD will gain;
- If CB Consumer Confidence index underperforms, the USD will drop.
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!