Market Brief 26 September: Consumer Confidence from the U.S. is due
Today major market catalysts are to be expected from the United States, both events taking place at the same time.
USD 15:00 p.m. GMT + 1, CB Consumer Confidence (Sep)- the index is indicative of consumer optimism or pessimism regarding overall economic activity. The indicator is a major one as it is looking forward in the economy going 6 months ahead, that is the indicator is a leading one. It predicts consumer spending and can be employed in long-term trading strategies. Expectations in September are for a decrease in Consumer Confidence at 120.0 versus 122.9 for the previous period. If the reading is better than expected this should raise the price of the dollar, while a lower than expected result, should be seen as a bearish sign for the currency.
USD 15:00 p.m. GMT + 1, New Home Sales (Aug) –the number is indicative of the number of new single-family homes sold during the month of August. Expectations are for an increase of the home sold at 585K in August versus 571K for the month of July. A higher number coming out should suggest bullishness for the currency while a lower than projected result should decrease the value of the U.S. dollar.
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