The preliminary figures for the University of Michigan Consumer Confidence Index for August will be announced. Most expectations were for a reading of 52.5, above last month’s 51.5 and expected to rise for the second month in a row. The US consumer price index for July was announced on the 10th, and the overall year-on-year growth was slower than expected. If the US Michigan Consumer Confidence Index improves more than expected in August due to the effects of this slowdown in inflation, the dollar may be bought.
Pay attention to the movement of USD after this.
