Conference Board Consumer Confidence measures economic sentiment of regular consumers in the United States. Being the driving force behind America’s present-day economic development, consumers can seriously influence the growth rate of the national economy.
Why is it important?
The level of consumer confidence is directly connected to consumer spending. Insecure citizens tend to spend less, especially on real estate and long-lasting goods. When the public feels safe and the future seems bright it is much easier for regular people to spend more and as a result accelerate the economic growth.
Practical application
A higher than expected reading should be taken as bullish for the USD, while a lower than expected reading should be taken as bearish for the USD.
