EUR Rises Above $1.30 before Consumer Confidence Reports
July 27th, 2010 Posted in Daily Forex News
Name: Natalie
Email:
Positive economic data as well as optimistic earnings reports published lately have boosted demand for riskier currencies, pushing the EUR back above the $1.30 level. Traders should continue following these indicators as a continuation of optimistic news will likely intensify the current trend.
Tody’s Leading Events:
6:00 GMT: EUR – GfK German Consumer Climate
14:00 GMT: USD – CB Consumer Confidence
Consumer confidence is a highly useful indicator as it lends insight into future consumption as well as manufacturing. The more people are confident about their future, the more they will be willing to purchase. Consumer spending accounts for a major part of economic activity; therefore, consumer confidence is a very valuable indicator.
Start trading with Natalie R. now:
Tags: cb, consumer climate, consumer confidence, EUR, EUR/USD, Forex, fx, gfk, USD
