CB Consumer Confidence surprised the markets by climbing to 125.5 in March, its highest level since December 2000. On the release front, CB Consumer Confidence rocketed to 125.5, crushing the estimate of 113.9. An increase in consumer confidence often translates into stronger consumer spending, which would be bullish for the US dollar, which has headed lower since the Federal Reserve rate hike on March 15. Actual 2210:00 US CB Consumer Confidence. The Fed's cautious approach has reduced investors' appetite for risk, which has been good news for gold, a safe-haven asset.
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US Consumer ConfidenceThe Consumer Board of the United States is due to release the consumer confidence data today. The Euro (EUR) extended upside movement against the US Dollar (USD) on Tuesday, increasing the price of EUR/USD to more than 1.0850 ahead of the US consumer confidence report. Otherwise, they will save money and the economy will suffer.The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity. According to the average forecast of different economists, the consumer confidence registered a reading of 113.8 points in March as compared to 114.8 points in the month before. The technical bias shall remain bullish as long as the 1.0808 support zone is intact.
collected by :John Miller
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Consumer Confidence Strengthens Further in March
The Strength in Consumer Confidence Is Hard to DismissConsumer confidence once again significantly topped expectations. The surge in the Consumer Confidence Index reported since the election is hard to dismiss as merely a post-election bounce. Overall consumer confidence has risen 24.8 points since October and coincides with improvement in other consumer surveys, as well as surveys of manufacturers, small businesses, homebuilders and corporate CFOs. Consumer confidence jumped 9.5 points in March to 125.6, easily topping expectations and marking the highest level since December 2000. Moreover, the gains in consumer confidence far exceed what occurred in previous elections and reflect a much more encouraging appraisal of both current and future economic conditions.US Consumer ConfidenceThe Consumer Board of the United States is due to release the consumer confidence data today. The Euro (EUR) extended upside movement against the US Dollar (USD) on Tuesday, increasing the price of EUR/USD to more than 1.0850 ahead of the US consumer confidence report. Otherwise, they will save money and the economy will suffer.The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity. According to the average forecast of different economists, the consumer confidence registered a reading of 113.8 points in March as compared to 114.8 points in the month before. The technical bias shall remain bullish as long as the 1.0808 support zone is intact.
collected by :John Miller
read more visit us forex
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