DislikedNO thats off. Previous was 10.3Billion expected was 5.5B
it came out lower at 5.2B which while this number is RED on forexfactory a lower number is actually MORE USD positive because it means that consumers who previously owed 10.3 Billion now owe much less and even less than what was expected.
So this low impact report is actually USD positive. But it is normally not traded by anyone and almost an insignificant number as it is also PROBABLY
not very accurate.Ignored
Measures the total value of outstanding consumer installment debt, such as credit cards and auto loans. A rising trend has a positive effect on the nation's currency because historically consumer borrowing and spending have a high degree of correlation.
So this is to say that if this number is down that it is bad for the USD.
But considering the situation many are in, in regards to forclosures and the credit crisis and the general trend of being overextended, I think it is positive
(just the opposite of what is suggested) because if everyone cut thier debt's in half, they are certainly in a much better position to buy something major
like a car or to run up thier credit cards (again). If you are maxxed out on your credit card, You CANNOT keep buying because you have no available credit. So the dip down in consumer debt isn't so bad.
I think it is high times some of these banks who are overextended
cut thier debts in half. Wachovia is the only major bank that is not currently overextended.
As far as revisions from January, those cannot possibly be significant at this point.