Today University of Michigan will release Consumer Sentiment at 1355 GMT which is expected to improve at 81.2 for March from earlier 80.0.
Consumer sentiments will mainly get support on two bases. First is employment and second in market scenario.
In March employment increased with the beginning of the spring. There was more hiring by service and manufacturing units in last month. Nonfarm employment increased by 192k in March and jobless claims continues to fall.
In the U.S. market there was seen bullish trend as the dollar was becoming stronger with appreciative economic readings in last month. According to IMF forecast the economy is projected to grow at the rate around 2.75 percent in this year and accommodative monetary conditions, a recovering real estate sector, and higher household wealth are expected to support the economy.
Consumers may expect more number of jobs and stable economic condition in coming months. We may see fall in number of consumers having pessimist view about the economy. Dollar may strengthen little if the result comes as expected. Investors may get near term idea regarding the market condition.