Housing data didn’t suggest any improvement In the housing sector, the most disturbing and annoying sector, meanwhile; other data suggested some im-provements in the economic activities, such as the durable goods numbers, and today the focus will be on consumer confidence.

The University of Michigan Consumer sentiment report is due today, with expectation to see the lowest reading in 25 years, marking the effect of the financial turmoil, the housing slump, and the economic downturn, and most importantly skyrocketing food and energy prices, which is affecting the global economy and is hurting it bad.

Consumer confidence has been one of the main concerns lately, as consumers are losing faith in the economy, and they are losing faith in the fed’s actions and decisions, basically they are losing faith in the future of the world which ring some huge bells for possible famines.

The dollar was climbing all week long, and it looks like this short-term trend is pretty strong, but today’s data might be a reinforcement to the trend or it might create a take profit wave in the markets.