Consumer Confidence is predicted to reach a six-year low while the US dollar has retained the safety-trade edge acquired as the pandemic panic exploded in March in all the major pairs except the USD/JPY, FXStreet’s analyst Joseph Trevisani reports.
Key quotes
“Consumer confidence from the Conference Board is expected to fall 40 points in April its largest one month decline in the series history.”
“The equity market seems confident that the American consumer will return to form once the shutdowns are lifted and a good portion of employment returns, hence its notable recovery since the low of March 23 while credit and currency markets are less convinced.”
“With so much riding on the willingness of Americans to resume their normal lives, the attitudes of everyday citizens are as important, if not more so, than the most astute economic predictions. Indeed, the markets are almost completely beholden to the US consumer.”
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