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

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All eyes on US CB consumer confidence

All eyes on US CB consumer confidence

Information is not investment advice

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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