Source: ForexYard
The University of Michigan (UoM) is set to release its data on consumer confidence and inflation expectations later today. The reports are anticipating a somewhat mild dip in confidence levels, though a case could be made that traders should fear for the worst from this report.
What traders have seen these past few weeks is a serious shortfall in industrial and manufacturing output, as well as turns to safety by investors as a double-dip recession appears more and more imminent. The UoM reports may not affect currency values heavily is they come in near expectations, but a broad decline could send traders reeling and seeking safety in the value of the greenback.
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