Yesterday was an ordinary day without much events. Even the Dow and S&P indices felt this big nothing and moved about 0% (yes, zero) and 0.01%, respectively.
Today the consumer confidence report is due today, and it will a good gauge for economic activity. Without confidence, there are less consumers and the future doesn't look bright, as consumers make 2/3 of the US GDP.
Tomorrow is the big day with the announcement of the new interest rate. Bernanke will have to choose between restraining inflation and raising rates and avoiding a recession and lowering (or keeping) rates. Tomorrow at 2:15pm EDT, don't miss.
The dollar got stronger yesterday, rising against most major currencies. Like always, Forex Funnel managed to extract $100 out of the market. Let's see what happens tomorrow, after the interest rate announcement.
Good luck with your trades,
Nadav
nadavs
Tuesday, June 24, 2008
Consumer Diffidence
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