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Why the US dollar could continue to rally on Friday
The University of Michigan consumer sentiment survey is a joke of an economic data point. From my perspective, it's indicative of nothing and that's something I've been writing for a long time.
To see why, you only need to look at the chart. It blew out the pandemic and financial crisis lows in August and what's happened to the consumer since? Nothing. Spending has held up just fine and certainly looks nothing like December 2008 or April 2020.
What the UMich survey measures is the... Read More
Posted: Feb 9 2023, 20:13
Author Name: forexlive
Views: 092199