According to forex reports in February Consumer Confidence fell from 61.2 to 56.2 though economists expected the index to fall slightly to 60.6. The decrease can be imputed to the U.S. economic stress where job losses have exceeded 3.5 million since the start of the recession and growth outlook remains uncertain. Confidence is an important indicator of where consumers see the economy heading, and a rising indicator often precedes rising GDP in a downturn.

The Federal Reserve has taken significant actions – it cuts the key rate to an all time low of 0.0%-0.25% with no room left to use the tool to affect monetary policy. Actions, taken by the Obama administration to help consumers and businesses through fiscal policy, include the $789B stimulus bill to be passed, as well as the Financial Stability Plan and support for mortgage holders, will likely create optimism and raise confidence in the months ahead.