Following the success of its Meta Trader Expert Advisor seminar, Varengold Bank, the award winning German investment bank, today announced the 3rd educational seminar in its new series held at the DIFC Capital Club. Designed for intermediate and professional traders, the seminar will cover how the consumer confidence and consumer sentiment indexes are compiled and their predictive power for trading the foreign exchange markets.
“Monitored closely by central banks, hedge funds, and currency trading professionals, the Consumer Confidence index provides traders insight into the direction of the economy and likely future money flows in the FX market ,” says Ilja Perschbacher, Managing Director of Varengold Bank Dubai. “Professional traders use this knowledge to manage their positions and look for inflection points in market sentiment.”
Begun in 1967, the US Consumer Confidence Index compiles the opinions of consumers on current conditions and future expectations for the economy. Two years later, in 1969, the University of Michigan began its Consumer Sentiment Index. Since then confidence indexes have been created for the major world economies, including Europe, Japan, Australia, and Canada.
Traders value the release of these survey results because they are some of the first indications of future GDP growth, interest rates, and monetary policy decisions that will affect the stock, bond, and forex markets.
Seminar participants will learn how the Consumer Confidence and Consumer Sentiment indexes are created, the key sections for each index, their role in predicting future economic trends, and how to incorporate the data to make informed opinions about the future direction of the forex market for the US Dollar, Euro, British Pound, Australian Dollar, and Japanese Yen.
The seminar will be held at the DIFC Capital Club on 24 January 2010. Doors open at 6:30 PM. Seating is limited so investors must RSVP with the local Dubai office at (0)4 7050470 or dubai@varengold.com.
