By Yan Petters – We at ForexYard, encourage our customers to get involved in the most intense market events. As such, we think you should know that U.S. CB Consumer Confidence figures are expected tomorrow, May 25th, at 14:00 GMT, and you need to be prepared.
What is CB Consumer Confidence?
The CB Consumer Confidence survey usually acts as a direct reflection of prior leading financial indicators that are assembling the U.S economic outlook. The biggest impact of the survey derives from instantly effecting consumer data, such as home prices, food costs, energy and gasoline. The Conference Board Inc.’s (CB) Consumer Confidence report measures the level of a composite index based on surveyed consumers. The figure is derived from a survey of about 500 households which asks respondents to rate the relative level of current and future economic conditions. Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity in the U.S.
If the Survey Comes In-Line With Market Forecasts
As recent U.S economic data has shown signs of growth, analysts forecast that this month’s survey will continue the current trend of rising consumer optimism. This will mark the 3rd consecutive month in which U.S. consumer confidence has advanced. If the result will reach expectations, it is likely to elongate the current bullish trend of the Dollar, especially against the Euro and the Pound.
If the Survey Will Disappoint
In case the survey will unexpectedly deliver lower figures than expected, it may reflect a worse than anticipated mood of U.S consumers. Such a result might have a very significant impact on USD trading, as it could halt the current bullish trend of the Dollar. In such a scenario, the EUR/USD pair might correct towards the 1.2500 level over the remainder of the week.
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