Dear Traders,

The CB Consumer Confidence Report at 3:00pm GMT today is based on a monthly survey of about 5,000 U.S. households regarding their opinion of the economy. Traders should keep an eye out on this one, as it has a strong impact on market prices. A higher reading than the market forecast is bullish for the dollar.

The last three months have shown consistent improvement, after a weak reading in October (39.8) followed by November’s improvement (56.0) and December (64.5). Here’s the basic idea to trading the report with StartOptions:

• GBP/USD binary options – if the report is above forecast 68.2 index levels, the dollar should rally and the pound sterling could drop in value.
• S&P500 binary options – this index of top US shares represents the broad US economy; if results are above forecast the index could rally on the news.

To better understand how to trade the CB Consumer Confidence report, send an email to support@startoptions.com.

Market Events:

Trade Alert for US CB Consumer Confidence – 3:00pm GMT

The expectations are for a reading of 68.2, a high figure relative to the previous 3 months. Check the results shortly after the release and look for surprise developments. If the figure is greater than expected, the US dollar should rise against its peers.

Why is it important?
Released monthly, the confidence report is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.

Advanced Report

Click here to read today’s advanced report looking at the ASX200 (Australia Index), Dow Jones (US Index), EUR/GBP and more. Understand the technical analysis in more detail to trade binary options with success.

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