EUR is advancing again. Overview for 22.12.2022
The market major has started growing again. The current quote is 1.0640.
The evening US statistics showed that the Conference Board CCI in December grew to 108.3 points from 101.4 points in November. The result was better than expected.
Also, the current situation index grew to 147.2 points from 138.3 points; the CCI grew to 82.4 points from 76.7 points. Curiously, the expectations about consumer inflation dropped to 6.7% y/y.
Normally, Conference Board parameters are quite objective. The indicator is based on questioning 5,000 households and demonstrates consumer optimism. It turns out that even with high prices and very vague prospects, US consumers are confident about their nearest future and keep on spending. This is good news for the economy.
Large investment houses are making forecasts for 2023. For example, UBS thinks that the USD is going to fall because the Fed is closer to the end of tight monetary policy than any other regulator.
Today take a look at the final US GDP statistics for Q3. The result is unlikely to differ from the current assessment, remaining at 2.9%. For the USD, this is neutral.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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