US Consumer Is Confident, Though Not the US Dollar
Skerdian Meta • 1 min read
The US CB consumer sentiment is the biggest piece of data on the economic calendar today. The numbers were just published and they were great.
Last month's reading was revised to 116.1 points, but this month´s reading was amazing. Expectations were for a reading of 113.9 points, but the actual number ended up being 125.6.
If the US consumer confidence continues like this, soon they will buy us all up
That´s a huge jump in confidence from month to month. It´s the highest since the new millennium entered in 2000 and the trend is still pointing upwards.
I don´t know where all this confidence came from, but Trump would surely rush to give himself the credit. Let´s see if this jump in consumer confidence will be reflected in retail sales for March.
Richmond FED also jumped from an expected 15 points to 22 points, and everything else is rising as well, from wages to new orders. These are some decent numbers from the US but the USD is not reflecting the confidence.
In fact, it has lost a dozen pips in the last hour or so. At least, it is acting in favour of our forex signal in NZD/USD.