We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides Download
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Ouch https://t.co/Ci8Txfpf98
  • US Equity Close: $DJI -1,196 (-4.44%) $SPX -138.5 (-4.44%) $NDX -414.3 (-4.61%) $RUT -56.5 (-3.64%) $VIX +10.1 (+36.47%)
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: US 500: 0.07% Wall Street: -0.03% Germany 30: -2.00% France 40: -2.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/OoZaNhSRFB
  • Fed's Evans says it is too early to respond with monetary policy to the coronavirus impact, but what about responding to the financial market's response to the coronavirus?
  • And, here is the $DXY Dollar Index overlaid with rate forecasts derived from Fed Funds futures through end of the year (flipped to align to textbook expectations) https://t.co/AvOauBbs2u
  • I smell desperation. Here is the $SPX overlaid with the forecast for rate cuts through the end of 2020. Pricing in 72 bps of easing. Shouldn't ask what the Fed will do but rather what can they practically achieve with their efforts... https://t.co/BCrOAIO1zC
  • Stocks edge to new daily lows with the $SPX trading beneath 3,000 https://t.co/CM1NBZGPzq
  • Heads Up:🇳🇿 NZD N.Z. Government 7-Month Financial Statements due at 21:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-02-27
  • Equity exposure https://t.co/yzKgAE2ozu
  • A closer look at Loonie price action sees $USDCAD continuing to trade within the confines of an ascending channel extending off monthly lows. Get your USD/CAD technical analysis from @MBForex here: https://t.co/fjWR1xDBO1 https://t.co/IJdDxwgB18
U.S. Consumer Confidence Rises to Highest Level in Three Years

U.S. Consumer Confidence Rises to Highest Level in Three Years

2011-02-25 15:53:00
Christopher Vecchio, CFA, Sr. Currency Strategist

The U. of Michigan Consumer Confidence survey for February beat analysts’ expectations and rose to 77.5, the highest reading in three years. Economists forecasted the index would rise to 75.5, from 74.2 in January, according to a Bloomberg News survey. Of the 59 estimates aggregated by Bloomberg News, forecasts ranged from 74.8 to 78. Consumers’ optimistic outlook on the labor market helped belay concerns over the recent boon in food and energy costs, as sustained low interest rates have flooded the capital markets will liquidity, boosting underlying inflationary pressures. In fact, consumers canvassed for the confidence reading said that they expect the inflation rate to hover around 3.4 percent for the next 12 months, the same reading as January.

022511_US_Consumer_Confidence_Rises_to_Highest_Level_in_Three_Years_body_Picture_1.png, U.S. Consumer Confidence Rises to Highest Level in Three Years

Source: Bloomberg

While today’s release is in line with other major trackers of consumer confidence, the U. of Michigan poll is still well below its prerecession levels. The five-year average of the gauge was 89.0, but plummeted in 2008 after oil touched $140 per barrel, and fell once again to an all-time low in November 2008 after equity markets around the globe crashed. Similarly, the current conditions gauge rose to 86.9 from 81.8 in the prior month, suggesting that consumers are becoming increasingly optimistic about their current financial situation.

Written by Christopher Vecchio, DailyFX Research.

To contact the author of this report, please send inquiries to: research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.