The United States Consumer Confidence Index, released by the University of Michigan, showed a final reading of 97.2, confirming a slowdown in the US consumers’ sentiment anticipated in the preliminary release. Following the government shutdown-induced dip from February, the UMich index had recovered its close-to-100 levels in March, but it has regressed a bit in April. That could correlate well with a possible regression in the labor market in March, which would mean the headline Non-Farm Payrolls number or the Average Weekly Earnings figures, to be released next Friday, May 3rd, would suffer in consequence. Our fundamental analysis guide to trade the US jobs report classifies the UMich Consumer Confidence Index as one of the ten leading indicators that provide some hints of the status and trend of the labor market. According to our NFP crash course, “consumer exuberance can translate into greater spending and faster economic growth. Therefore, a positive correlation is expected to the NFP numbers. As such, a high reading anticipates a strong NFP, if aligned with all the other indicators”. The UMich Consumer Confidence Index is the fourth leading indicator released ahead of next week’s April US jobs report. Before this negative signal, we had got positive readings from the previous NFP release, the March ISM Non-Manufacturing PMI (its employment sub-component increased 0.7% from the Feb reading of 55.2), but a negative one coming from the latest JOLTS (Job Openings and Labour Turnover) indicator, which was released on April 9th and showed a retracement from 7.625 million to 7.087 in February. You can check them out in our US jobs report pre-release checklist table: FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WH Econ Adviser Hassett: Economic growth ‘really, really strong’ in Q1 FX Street 3 years The United States Consumer Confidence Index, released by the University of Michigan, showed a final reading of 97.2, confirming a slowdown in the US consumers' sentiment anticipated in the preliminary release. Following the government shutdown-induced dip from February, the UMich index had recovered its close-to-100 levels in March, but it has regressed a bit in April. That could correlate well with a possible regression in the labor market in March, which would mean the headline Non-Farm Payrolls number or the Average Weekly Earnings figures, to be released next Friday, May 3rd, would suffer in consequence. Our fundamental analysis guide… Top 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.
