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- Conference Board’s U.S. Consumer Confidence to Narrow for Second Consecutive Month in April to 126.0 from 127.7 the Month Prior.

- EUR/USD[1] Eyes March-Low (1.2155) Amid Rising U.S. Treasury Yields. Relative Strength Index (RSI) Snaps Bullish Formation From Late-2017.

Trading the News: U.S. Consumer Confidence

DailyFX Calendar

Another downtick in the Conference Board’s U.S. Consumer Confidence survey may tame the recent decline in EUR/USD as it rattles expectations for four Fed rate-hikes in 2018.

A considerable deterioration in household sentiment may trigger a bearish reaction in the U.S. dollar[2] as it dampens the outlook for growth and inflation, and the Federal Open Market Committee (FOMC) may stick to the current script at the next interest rate decision on May 2 amid ‘incoming data suggesting some slowing in the rate of growth of household spending and business fixed investment after strong fourth-quarter readings.

However, a positive development may push the FOMC[3] to implement higher borrowing-costs throughout 2018, and the rise in U.S Treasury yields may keep the greenback bid as ‘members expected that economic conditions would evolve in a manner that would warrant further gradual increases in the federal funds rate.Sign up and join DailyFX Currency Analyst David Song LIVE[4] to cover the updates to the U.S. Consumer Confidence survey.

Impact that the U.S. Consumer Confidence survey has had on EUR/USD during the last print

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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