News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.14% 🇨🇭CHF: -0.56% 🇨🇦CAD: -0.70% 🇬🇧GBP: -0.93% 🇦🇺AUD: -1.14% 🇳🇿NZD: -1.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GIoEwFiMLN
  • The DXY continues to build on a rebound off long-term uptrend support and the Majors are poised for some decent moves this week. Get your #DXY market update from @MBForex here: https://t.co/bjbs0gYT6I https://t.co/0OapScLca9
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.50% Germany 30: 0.49% FTSE 100: 0.32% US 500: -2.12% Wall Street: -2.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/nultu65SC6
  • UK PM Johnson is to announce a 10pm closing time for pubs tomorrow, according to the Sun
  • NI First Minister says local COVID 19 restrictions currently in place will apply to the whole of Northern Ireland from Tuesday
  • Heads Up:🇺🇸 Fed Brainard Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-21
  • Technical Trade Levels: #Dollar, #Euro, #Sterling, #Yen, #Loonie & #Gold - Webinar Archive - https://t.co/4s1mlKp2rr
  • that rebuffing in $GBPUSD last week was Wed-Friday as price action built in an evening star formation. Next big support on my chart ~2644-2674 https://t.co/v7yvMVokmn https://t.co/a4uVJj9rY6
  • oy what a start to the week for cable. $GBPUSD right back down to support. soundly rebuffed at 1.3000 resistance last week https://t.co/3dBodYYIwT https://t.co/KEoi6Vjb04
  • @JohnKicklighter https://t.co/EaGYJacfXL
USD Gains as Consumer Sentiment Rose to Three-Month High in August

USD Gains as Consumer Sentiment Rose to Three-Month High in August

2012-08-31 14:34:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: [U.S. consumer confidence rose in August to highest level in three months] > [Adds to signs of improving U.S. economy] > [USD strengthens]

Consumer confidence in the U.S. rose more than expected in August to the highest level in three months, adding to signs that the U.S. economy is picking up. Final monthly readings indicated that the Thomson Reuters / University of Michigan Confidence Index (MCSI) climbed to 74.3 in August from its preliminary print of 73.6 and July’s reading of 72.3. The median forecast of 60 economists surveyed by Bloomberg News called for a final print of 73.6.

Recent economic data has shown improvements in job growth and home prices, boosting consumer sentiment and the likelihood of a pickup in household spending in coming months. On the other hand, rising fuel prices and concerns over impending tax changes may be holding back larger gains in consumer confidence.

AUDUSD 1-minute Chart: August 31, 2012

USD_Gains_as_Consumer_Sentiment_Rose_to_Three-Month_High_in_August__body_Picture_2.png, USD Gains as Consumer Sentiment Rose to Three-Month High in August

Chart created using Market Scope – Prepared by Tzu-Wen Chen

In the minutes following data release, the U.S. dollar strengthened against the Australian dollar, rising to a high of $1.0279. The subsequent reversal came after Federal Reserve Chairman Ben Bernanke’s comments on the U.S. economic outlook, ahead of today’s Jackson Hole Economic Policy Policy Symposium.

--- Written by Tzu-Wen Chen, DailyFX Research

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

DISCLOSURES