Salam. Today our main focus will be on CB Consumer Confidence, scheduled at 10.00 pm GMT+8. I’ll look it in 2 different ways. First, for consumer to have a higher confidence level from the economy, they need to be employed. And sadly, this is not happening. Numbers shown that employment in the US are keep on falling. This shows biggest part of the economy is still struggling.
Secondly, the forecast value is 48.1, which is better than last month 46.6. While this is supposed to be good for the greenback, under certain circumstances this may not be true. I believe a better than expected value should help the Euro as risk appetite may increase. A worse number could be bad for the Euro as risk aversion may increase as investors may reduce their optimism about the recovery.
Till then.
Even the gurus will concur with what is being said here. I am glad I begin it.
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