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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • The $USD may return to the offensive as markets flee to cash amid fears of deep global recession thanks to the still-raging #coronavirus outbreak. Get your US Dollar update from @IlyaSpivak here: https://t.co/g1us4ZbYR5 https://t.co/DWWrIOCEd2
  • Heads Up:🇯🇵 JPY Monetary Base End of period (MAR) due at 23:50 GMT (15min), Actual: N/A Expected: N/A Previous: ¥515.9t https://www.dailyfx.com/economic-calendar#2020-04-01
  • Heads Up:🇯🇵 JPY Monetary Base (YoY) (MAR) due at 23:50 GMT (15min), Actual: N/A Expected: N/A Previous: 3.6% https://www.dailyfx.com/economic-calendar#2020-04-01
  • $AUD chart positioning suggests prices have set a swing top near the 0.62 figure. Re-engaging the long-term downtrend against $USD may follow. Get your AUD/USD market update from @IlyaSpivak here:https://t.co/OIEDlId6HZ https://t.co/9BW8ugnuEV
  • - What will happen to the price of Bitcoin after halving? - Bitcoin price chart indicates volatility could be ahead - Coronavirus outbreak may disrupt mining operations https://www.dailyfx.com/forex/fundamental/article/special_report/2020/03/24/Bitcoin-Price-How-Will-Halving-Coronavirus-Affect-BTC.html
  • #OOTT https://t.co/MGUJeESweD
  • $CAD https://t.co/3H2JMm7YBl
  • The #Dow Jones, S&P 500 and #DAX 30 have bounced after aggressive declines. Can this momentum last? Trader positioning seems to be offering mixed signals as technicals point bearish. Get your market update from @ddubrovskyFX here:https://t.co/DdCUyoGSmL https://t.co/f8KTgmzOYH
  • Trump says he wants two more hospital ships to be built #covid19
  • $EURUSD Daily Pivot Points: S3: 1.086 S2: 1.0957 S1: 1.0999 R1: 1.1096 R2: 1.1149 R3: 1.1245 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
US Consumer Confidence Fends Off Expected Further Retreat From Record High

US Consumer Confidence Fends Off Expected Further Retreat From Record High

2018-05-11 16:30:00
Peter Hanks, Analyst

Talking Points:

  • The sentiment report beat expectations of 98.3, reading 98.8 for the second consecutive month
  • The measure hit its highest level in 14 years in March, reading 101.4
  • Survey respondents overwhelmingly confident of future interest rate hikes by the Federal Reserve

Learn the number one mistake traders make when trading. Download our Traits of Successful Traders Guide in the Beginner section of the DailyFX Trading Guides page.

The University of Michigan consumer confidence report for May reveals consumer sentiment was unchanged from April. Although unchanged, the report surpassed expectations of a 98.3 print with a reading of 98.8. The report is an important gauge for other US economic metrics like consumer credit. After declining from a 14 year high in April amid concerns of trade wars and volatility in capital markets, the steadiness in the report is an encouraging sign for the US ecnonomy.

Despite the rise of geopolitical tensions splashing news headlines, the US consumer has found buffer in various encouraging domestic reports as of late that likely facilitated the headline survey’s hold and the uptick in expectations (89.5 from 88.4 in April). Firstly, the unemployment rate has continued to decline and now rests at 3.9%, the lowest in 17 years. Despite the decrease in unemployment this month, fewer survey respondents anticipated additional declines. Richard Curtin, the curator of the sentiment report, stated “consumers have a remarkable track record for anticipating changes in the actual unemployment rate.” Similarly, respondents noted wage gains that likely contributed to their positive reflections in the May reading. Despite these encouraging aspects, there were still areas of concern to be found. Respondents changed their anticipation of inflation, moving it up from 2.7% to 2.8% for the coming months – though that may further speculation of faster Fed hikes and in turn support the Dollar’s recovery. In fact, in conjunction with rising inflation, 80% of consumers are confident the Federal Reserve will increase interest rates in the year ahead.

As we look to markets, there was limited movement attributable to the sentiment report, but US markets have moved timidly into the green today. While the report paints a rosy picture for the ecnonomy as respondents noted that the economy is growing, many were aware that it has been a long expansion period. By similar measure, the Dollar would not register a strong response from either a position of economic strength or through more hawkish interest rate expectations.

US Consumer Confidence Fends Off Expected Further Retreat From Record High

Charts from IG Markets Platform

Written By -- Peter Hanks, DailyFX Research

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


News & Analysis at your fingertips.