US DOLLAR PRICE ACTION EDGES LOWER AS CONSUMER CONFIDENCE REPORT DISAPPOINTSThe US Dollar Index dropped towards session lows inst
US DOLLAR PRICE ACTION EDGES LOWER AS CONSUMER CONFIDENCE REPORT DISAPPOINTS
- The US Dollar Index dropped towards session lows instantly following the buyer confidence index launch for October
- USD worth motion stays centered on a extremely anticipated FOMC price resolution anticipated Wednesday
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US Greenback promoting stress picked up after the Convention Board’s US Client Confidence Index for October crossed the wires at 125.9, which compares to market estimates of 128.zero and prior studying of 125.1.
Foreign exchange merchants pushed the US Greenback to session lows in response to the disappointing datapoint seeing that it additionally detailed additional deterioration in client outlook with the longer term expectations element declining from 95.eight to 94.9.
One noteworthy excerpt from the October US Client Confidence report was how “expectations weakened barely as customers expressed some issues about enterprise situations and job prospects.”
US DOLLAR INDEX PRICE CHART: 5-MINUTE TIME FRAME (OCTOBER 29, 2019 INTRADAY)
Chart created by @RichDvorakFX with TradingView
I famous within the US Dollar Price Volatility Report printed yesterday that the USD worth motion might come below stress if client confidence knowledge spooked merchants contemplating that the US client…