Prelim UoM Consumer Sentiment

Source
MeasuresLevel of a composite index based on surveyed consumers;
Usual Effect'Actual' greater than 'Forecast' is good for currency;
FrequencyReleased monthly, around the middle of the current month;
Next Release
FF NotesThere are 2 versions of this data released 14 days apart – Preliminary and Revised. The Preliminary release is the earlier and thus tends to have the most impact;
Why Traders
Care
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity;
Derived ViaSurvey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions;
Acro ExpandUniversity of Michigan (UoM);