US CB Consumer Confidence is based on a monthly survey of about 5,000 U.S. households regarding their opinion of the economy. Traders should pay close attention to its release, which always has a strong impact on market prices. A higher reading than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 15:00 GMT. Indicator Background CB Consumer Confidence is an important gauge of consumer confidence. Increased consumer confidence usually translates into an increase in consumer spending, a key engine of economic growth. The indicator surged in November to 107.1 point, well above the estimate of 101.3 points. The upward trend is expected to continue in December, with an estimate of 108.9 points. Sentiments and levels The week of Christmas is usually quiet and marked by thin trading. The trend remains to the downside: monetary policy divergence is starker than beforehand. However, the next move could wait for 2017. So, the overall sentiment is bearish on EUR/USD towards this release. Technical levels, from top to bottom: 1.0570, 1.0520, 1.0460, 1.0340 and 1.0150. 5 Scenarios Within expectations: 106.0 to 112.0: In such a case, EUR/USD is likely to remain within range, with a small chance of breaking higher. Above expectations: 112.1 to 116.0: An unexpected higher reading can send the pair below one support level. Well above expectations: Above 116.0: A sharp increase in consumer confidence could boost the dollar and send the pair below a second support level. Below expectations: 102.0 to 105.9: A reading lower than forecast could push EUR/USD above one resistance level. Well below expectations: Below 101.9: In this outcome, the pair could break above a second resistance level. For more on EUR/USD, see the EUR/USD forecast. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next What will move markets in 2017 – MM #128 Yohay Elam 6 years US CB Consumer Confidence is based on a monthly survey of about 5,000 U.S. households regarding their opinion of the economy. Traders should pay close attention to its release, which always has a strong impact on market prices. A higher reading than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 15:00 GMT. Indicator Background CB Consumer Confidence is an important gauge of consumer confidence. Increased consumer confidence usually translates into an increase in consumer spending, a key engine of economic growth. The indicator surged in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
