Major Market Mover: A Start With Confidence

Daily Forex Fundamentals | Written by Crown Forex | Jul 29 08 07:14 GMT |

The preparations are still undergoing for this week's fundamentals, and today we will start warming up with the U.S. consumer confidence numbers for the month of July as measured by the conference board, which is expected to fall to 50, after a 50.4 in June. Confidence have declined to a 16 years low according to the estimates, highlighting just how much consumers are afraid from this crisis, from depreciating home values, and to higher food and energy prices, to slower economic growth, all of that is reflected in the consumer confidence, and that's why we expected it to continue decline. The U.S. economy is already a mess, and just when you think it's not going to worsen it does, every once and a while we almost get convinced that the worse is behind us and now we should start about the economic recovery and so on and so forth, but again, with such confidence, and with such variables, the equation is still not in the U.S. economy's favor. The preparations are still undergoing, and more and more concerns and uncertainties are surrounding markets and investors and there is nothing anyone can do right now but to wait, not only for today's data, but for Friday's report as well, and not only that, but every single release till the end of this year… Crown Forex disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.