U.S. consumer confidence data to be released soon, may pose a bearish factor for the U.S. dollar
ChainCatcher News, according to Golden Ten Data, Chris Turner from ING stated in a report that if the upcoming US economic data shows weakness, the US dollar may face downward pressure. The preliminary value of the University of Michigan Consumer Sentiment Index for February will be released tonight at 23:00 (GMT+8). Turner noted that if this data unexpectedly declines, it could be slightly bearish for the US dollar, as it would once again remind the market that consumer confidence is to some extent dependent on stock market performance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Summary of Major Developments on the Evening of May 17
trade.xyz Pre-IPO may be listed on SpaceX
Michael Saylor shares bitcoin tracker update again, possible disclosure of additional holdings next week
