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US Consumer Confidence: 94.6 – above expectations

Another beat in US economic indicators: The UoM consumer sentiment rose to 94.6 points, above expectations. The  current conditions figure jumps from 100.8 to 106.8 points. The expectations component is up from 84.2 to 86.8 points.

The dollar is marginally higher.

The University of Michigan’s consumer  confidence measure for June was expected to stand at 91.3 points in the preliminary read for June, up from an upwards  revised 90.7 points in May.

Here is the preview: trading the consumer sentiment with EUR/USD.

Consumer sentiment is considered a leading indicator for consumer spending, but the correlation is not often that strong. In May, retail sales advanced 1.2%.

This is the last data point for this week and next week we have the  all important Fed decision.

In our latest podcast, we  bring you up to speed with the Fed decision and the USD impact, and also  tackle the Greek crisis from two different angles.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.