U.S. consumer confidence data to be released soon, may pose a bearish factor for the U.S. dollar
ChainCatcher News, according to Golden Ten Data, Chris Turner from ING stated in a report that if the upcoming US economic data shows weakness, the US dollar may face downward pressure. The preliminary value of the University of Michigan Consumer Sentiment Index for February will be released tonight at 23:00 (GMT+8). Turner noted that if this data unexpectedly declines, it could be slightly bearish for the US dollar, as it would once again remind the market that consumer confidence is to some extent dependent on stock market performance.
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