Influence of Michigan consumer sentiment index in Forex market
This index reflects the consequences of a countrywide survey of consumers about their confidence in the current economic state of their country. The survey is directed by Thomson Reuters and University of Michigan. Actually, this index reflects the desire of a consumer to spend his money. The progress of this index can be an important factor for the USD exchange rate, but only moderately effects the Forex market. Reports are released twice a month at 10:00 EST (New York). The first one is published on the second Friday of each month, and the final report is released a fortnight later.
Written by FxErvin