The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact. The reading is compiled from a survey of around 500 consumers.
Usual Effect: A high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.
Frequency: Released monthly, usually on the last Friday of the current month.
Last Read : 84.6
Expectations : 84.7
Volatility : Medium Volatility
It will be be published today at 13:55 GMT , you can follow this event live @ goo.gl/LOceky
Forecast : we have 3 scenarios for the USD :
- Scenario one : Between 84.4 – 84.8 , will bring sideways move for the USD.
- Scenario two : Above 84.8 , will bring light bullish move for the USD.
- Scenario three :Below 84.4 , will bring light bearish move for the USD.
Note : Final GDP already released at 4.6% leaving the USD neutral with bullish bias , now the market is waiting for Michigan Consumer Sentiment , any positive release is likely to boost the USD , while any negative release could bring a small pullback …..