After the beat on retail sales, US consumers seem to be confident towards Thanksgiving. The headline consumer confidence number is up to 89.4 points, current conditions leap to 103. Inflation expectations are down to 2.6%. Expectations top the 80 line with 80.6 points. While inflation is low, and this isn’t surprising with lower prices at the pump, the overall picture is bullish. The dollar is slightly stronger but only for a short while. GBP/USD falls temporarily below 1.56, other currencies are not breaking new ground. US consumer confidence, as measured by the University of Michigan and Reuters, was expected to edge up to 87.3 points in the preliminary read for November, after 86.9 points in October. The US dollar was on a roll following better than expected retail sales. EUR/USD traded under resistance of 1.2440, GBP/USD was down below 1.5620, USD/JPY traded around 116.60, USD/CAD around 113.40 and AUD/USD around 0.8670. Retail sales advanced by 0.3% in October, and so did core sales. Core retail sales also enjoyed an upwards revision to the previous fall. This sparked additional US dollar buying, with the exception of the Canadian dollar, that had its own good data. We will soon have a report on business inventories, which are predicted to rise by 0.3% and mortgage delinquencies. Update: inventories rise 0.3% as expected. In our latest podcast, we dive into Australia, analyze the US jobs picture, talk about the punished pound and discuss the collapsing yen: Download it directly here Subscribe to our podcast on iTunes. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Weekly Outlook Nov. 17-21 Anat Dror 8 years After the beat on retail sales, US consumers seem to be confident towards Thanksgiving. The headline consumer confidence number is up to 89.4 points, current conditions leap to 103. Inflation expectations are down to 2.6%. Expectations top the 80 line with 80.6 points. While inflation is low, and this isn't surprising with lower prices at the pump, the overall picture is bullish. The dollar is slightly stronger but only for a short while. GBP/USD falls temporarily below 1.56, other currencies are not breaking new ground. US consumer confidence, as measured by the University of Michigan and Reuters, was expected to… 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.
