We prepared an outlook of major events of this week. Check it and be ready!
How Will USD React to Consumer Sentiment Index?
Information is not investment advice
What will happen?
America will announce prelim UoM consumer sentiment on March 11, at 17:00 MT (GMT+2).
Financial confidence is a leading indicator of consumer spending. This index reflects the overall economic activity. These data are released in two parts 14 days apart – preliminary and revised. The preliminary release is the earlier and thus tends to have the most impact.
Last time the result underperformed the expectations. As a result, AUDUSD gained more than 600 points.
How to trade on Prelim UoM Consumer Sentiment index?
- If the Prelim UoM Consumer Sentiment is greater than forecast, USD is likely to strengthen against other currencies.
- If the Prelim UoM Consumer Sentiment is lower than forecast, USD is likely to weaken against other currencies.
Instruments to trade: USDCAD, USDCHF, GBPUSD
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