US consumer confidence data

• CB Consumer Confidence Index (Nov), fact 135.7, forecast 135.9.

CB consumer confidence index unexpectedly slowed down in November. At the same time, general upward dynamics in the indicator continues to be maintained.

Fig. 1. CB consumer confidence index chart

In fact, weak US statistics did not put pressure on the US dollar, which accelerated growth on the data that US President D. Trump could impose a 25% import duty on cars. As a result, the US dollar has accelerated growth across the market, but this decision will particularly affect the euro.

The US dollar index broke through resistance 97.20 and is preparing to test resistance at 97.40-50. It should be noted that the US currency is oversold, which increases the possibility of correction.

The US dollar index chart. The current price is 97.30 (10-year government bonds yield is the blue line)

Read also: “Averaging Strategy in the Forex Market”

Hanzenko Anton

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