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The U.S. Consumer Confidence will be released tomorrow at 10:00am EST.
The Consumer Confidence is a leading indicator for any economy because it suggests what people think about the current economic condition.
What people think determines how they act (what and how much they buy).
Last month’s release at 65.9 on the index was higher than the expected 61.5. As we move closer to the election, the consumer confidence level ought to be watched even closer. The reason for this is because, as we move towards BIG fundamental market shaking events like an election, news that usually carries a little weight could carry much weight since everyone has their eyes on it.
Today is looking to close bearish for the EUR/USD and positive U.S. News in the morning could add to the bears’ momentum.
Positive speculation for the Euro (like Spanish negotiating) from last week, could lose it’s market influence if we don’t see some action soon.
Check this out too guys, it’s an interesting article concerning an ‘ECB threat letter’. Click here to read it. I just saw it on Forex Factory about 10 or 15 minutes before posting this article.[/column]
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