Good morning and welcome to Money Minute,
where we preview the day’s biggest financial stories.
Over in the eurozone this morning, we get Germany’s trade balance for September. The eurozone’s biggest economy has been struggling
this year and is quite possibly in recession. The latest trade data will give an idea of
just how much trade wars have contributed to the pain. In the US, we get the latest reading from
the University of Michigan consumer confidence indicator. Consumption drives around two-thirds of American
economic activity, making it the most important driving force of the world’s most important
economy. That means that both the desire and the ability
of the US consumer to maintain their spending is vitally important to the global economy
as a whole. That’s why investors keep a close eye on
US consumer confidence. The good news is that confidence is currently
pretty strong, and this month’s reading is expected to come in at roughly the same
level as last month’s. See you next time!