Economics play a huge role in the foreign exchange market. I enjoy looking at economic trends and trying to see how it affect currencies and life in general. I will post my thoughts and observations here. I'm throwing macroeconomics, forex trading, pop culture, and everyday life into a pot and hopefully the final product are lessons that are easy for you to consume.
Consumers are feeling goooood!
The major US news for today was the Consumer Sentiment report which was released at 10:00 am ET. Basically, consumer sentiment is a survey given out by the University of Michigan that asks participants about their view towards the economy. This report attempts to gauge how optimistic the consumers are in hopes that it will have some predictive value in determining the future of consumer related reports, such as consumer spending and retail sales.
Here were today's results from the Consumer Sentiment report:
The report basically tells us that consumers are pretty optimistic at this point about the economy. With oil still dropping and gas prices staying put, we may see this report stay positive for the next month or two.
