Release Explanation: This is a survey that queries economic participants on their current and future expectations for the UK economy. The figure is released at the start of each month, making consumer confidence a timely measure of consumer sentiment now and in the immediate future. It helps to build a picture of the consumer’s mood towards the economy.
 
Trade Desk Thoughts: The GfK consumer confidence for the month of March fell to -30 from a -35 reading in February. Consumer confidence in the U.K. has risen to its highest level since May of 2008 but still remains low overall. This may be partially attributed to lower interest rates for many families. Consumers also feel that over the next 12 months conditions will improve greatly. The personal financial situation index rose one point to -17 for the month. 
 
Forex Technical Reaction: The pound has not reacted significantly to this news as the pair becomes entangled in between the 20 and 50 day moving averages.