U.S Consumer Confidence Numbers May not Be Enough for the U.S Dollar

Economic data from the U.S include consumer confidence figures that will need to be particularly impressive to deliver recovery of early losses.
Bob Mason
Light Board

Earlier in the Day:

It was a relatively busy day on the Asian economic calendar in the earlier hours of this morning.

China’s December private sector PMI numbers were in focus in the early part of the day.

Out of China

The Manufacturing PMI held steady at 50.2 in December, with the services PMI falling from 54.4 to 53.5.

Economists had forecast a manufacturing PMI of 50.1. China’s composite PMI slipped from 53.7 to 53.4.

The Aussie Dollar moved from $0.70026 to $0.70035 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.17% to $0.7006.


At the time of writing, the Japanese Yen was up by 0.21% to ¥108.65 against the greenback. with the Kiwi Dollar up by 0.07% to $0.6733.

Volumes were on the lighter side through the morning, with Australia and New Zealand on half-days and the Japan markets closed.

The Day Ahead:

For the EUR

It’s a quiet day ahead on the economic calendar. There are no material stats scheduled for release later this morning.

A lack of stats will continue to provide support to the EUR, which is on an upward trend as geopolitical risk eases further.

Expectations are for the Eurozone economy to benefit from the U.S – China phase 1 trade agreement. That is assuming, of course, that Trump doesn’t target the EU next.

While the holiday season has been kind to the EUR, there is the issue of Brexit and the possibility of a hard Brexit to consider…

At the time of writing, the EUR was up by 0.12% to $1.1212.

For the Pound

It’s also a quiet day ahead on the economic calendar, with no material stats due out of the UK to provide the Pound with direction.

With the UK markets on a shortened day, volumes will be on the lighter side, with further upside for the Pound likely through the early part of the day.

At the time of writing, the Pound was up by 0.11% to $1.3128, with Dollar weakness delivering the upside.

Across the Pond

It’s a relatively busy day on the data front. Key stats include December consumer confidence figures and October house price numbers.

December’s CB Consumer Confidence figure will have the greatest impact on the Dollar. The figures may not be enough to prevent another day in the red, however.

At the time of writing, the Dollar Spot Index was down by 0.10% to 96.642.

For the Loonie

It’s a quiet day on the economic calendar, with no material stats due out of Canada to provide direction.

A lack of stats will continue to leave the Loonie in the hands of crude oil prices on the day and market risk sentiment.

The Loonie was up by 0.16% to C$1.3048 against the U.S Dollar, at the time of writing, with a weak Greenback delivering the upside.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.