Jobless claims were reported at the lowest figure in 5+ years on Thursday. Friday is expected to bring us the highest consumer sentiment figure in 5+ years.
The University of Michigan Consumer Sentiment Index indicates to investors what the American consumer thinks about the state of the economy. A High index = positive outlook, low = negative outlook.
Economists expect the sentiment of the American people to rise to 85.5 from July’s 83.9 on the University of Michigan composite index.
People are nervous about Tapering, so it isn’t likely to see the U.S. Dollar fly to the moon, but a lot is hanging on this Consumer Sentiment Report today.
The overall market sentiment is bullish for the U.S. Dollar right now, talks of Tapering soon could be revived.
Until next time, for news updates and more fundamental analysis, you can follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!
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