Busy day ahead for USA traders. A few economic announcements will be released today.
- Personal Income and Outlays
- Employment Cost Index
- Chicago PMI
- S&P Case-Shiller HPI
- Consumer Confidence
- Farm Prices
- ICSC-Goldman Store Sales
- FOMC Meeting Begins
The market will be focus in consumer confidence data. The consumer confidence report is a monthly report. The consumer confidence index declined in May and fell further in June, as consumer have a poor perception of their current business and employment conditions. Their are concern about the future.
The report will be released at 10.00 am New York Time. Expectations are for a small improvement in the consumer sentiment, which will come as a relief, as the index needs to move up from its 2012 low to improve the outlook for consumer spending.
If the data is positive, and not negatives rumours from the FOMC meeting are heard. The Dow Jones which is currently poised for flat start, could add some much needed value to the index.
Most traders will wait till announcement is out, to put their trading day into perspective.