Consumer Credit Change Figures for the month of February have been announces in USA. The announced figure of 7.62 billion US Dollars was much higher than the market’s 4.70 billion expectation and also from the previous reading of 4.45 billion. Following the news announcement at around 20:00 GMT time none of the major currency pairs developed any volatile behavior as it wasn’t viewed as an important indicator.
The Consumer Credit measures the amount of money individuals borrowed. It indicates if consumers can afford major expenses, which can generate economic growth. On the other side, a high figure may also indicate a economic hazards, as consumers borrow expecting to live beyond what they can afford. A high reading is usually considered as bullish for the USD, while a low reading as bearish.