Another Positive Economic Report From the US, Before the FED Meeting Today
Skerdian Meta•Wednesday, April 28, 2021•1 min read
The US manufacturing activity started bouncing back right after the first lock-downs in the US, while surging towards the end of the year. Eventually the rest of the US economy started catching up with it, with services activity now also surging to record levels. Inflation is improving as it increases 2.5%, while the consumer and investor confidence is also improving, getting closer to pre-covid levels.
The USD has shown some signs of life this year, but it’s sill uncertain whether to turn bullish, until the FED says so. The FED meeting is tomorrow by the way. Today we had one last good report from the US, with the Conference Board consumer confidence jumping higher above 120 points. Below is the report:
Consumer confidence data from The Conference Board for April 2021
- April Conference Board consumer confidence 121.7 vs 113.0 expected
- Prior was 109.7
- Expectations 109.8 vs 109.6 prior
- Present situation 139.6 vs 110.1 prior
- Jobs hard-to-get 13.2 vs 18.5 prior
We are still not back to pre-covid levels but this is a decent jump in the confidence, although we are getting close to it. The market reaction towards the USD has been minimal though, with eyes on the FED meeting tomorrow.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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