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
EUR/USD
Bullish
Low
High
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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.11%, while traders in US 500 are at opposite extremes with 76.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JwZoWai85y
  • LIVE NOW: Join Analyst and Editor @MartinSEssex as he discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead. Register here: https://www.dailyfx.com/webinars/181540619?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.54% Silver: 0.45% Gold: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wVPqMhDmYC
  • Coming up at half past the hour: my weekly webinar on market #sentiment. Please join me if you can. You can sign up here: https://www.dailyfx.com/webinars?ref-author=essex
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.04% 🇯🇵JPY: 0.04% 🇦🇺AUD: -0.13% 🇬🇧GBP: -0.15% 🇨🇭CHF: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DtH53waOtP
  • The break of 97 on DXY opens the door to 94.60 https://www.dailyfx.com/forex/video/live_events/2019/10/21/EURUSD-drives-higher-on-weaker-USD-JWweb-121.html
  • Canadian Dollar Price: USD/CAD Falls to Multi- Month Low Ahead of CAD Data More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2019/10/22/Canadian-Dollar-Price-USDCAD-Falls-to-Multi--Month-Low-Ahead-of-CAD-Data-MK.html?CHID=9&QPID=917714 https://t.co/orD7EFhpgU
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.22% Wall Street: 0.05% US 500: 0.04% France 40: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wZSjSvhUvr
  • LIVE IN 30 MIN: Join Analyst and Editor @MartinSEssex as he discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead. Register here: https://www.dailyfx.com/webinars/181540619?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The $USD faces selling pressure against the Malaysian Ringgit and Philippine Peso. More losses may be in store in $USDMYR as $USDPHP descends through rising support from 2013. Get your market update from @ddubrovskyFX here: https://t.co/t3kmFpmg1w https://t.co/vjA2EV79CN
U. of Michigan Consumer Confidence Rises to a 5-Month High

U. of Michigan Consumer Confidence Rises to a 5-Month High

2013-12-06 15:34:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • University of Michigan Confidence rises to a 5-month high
  • USD/JPY shows a small and temporary rise

Want to trade with proprietary strategies developed by FXCM? Find out how here.

Consumer confidence reached a 5-month high in December, according to the University of Michigan survey. The sentiment index was reported at 82.5, beating expectations for 76.0 and up from 75.1 reported in November.

US Dollar traders remain focused on data for the effect on the FOMC’s decision whether or not to taper in the upcoming Fed meeting. The minutes from the last meeting said that the Fed is likely to taper QE in the coming months on better data. However, the dollar failed to hold a rally following this morning’s better than expected payrolls release, possibly because traders didn’t believe the numbers were strong enough to cause a December taper.

Therefore, the consumer confidence survey led to a 10-pip and short lived rise in the dollar against the Yen. A 6-month USD/JPY high set recently at 103.37 may continue to provide resistance.

New to Forex? Watch this video

USD/JPY 1-Minute: December 6, 2013

U._of_Michigan_Consumer_Confidence_Rises_to_a_5-Month_High__body_Picture_1.png, U. of Michigan Consumer Confidence Rises to a 5-Month High

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES

News & Analysis at your fingertips.