MARKET OVERVIEW - US consumer confidence data may turn the dollar's direction downwards.

Foreks - ING analyst Francesco Pesole stated that the dollar could decline due to the likelihood of worse-than-expected U.S. consumer confidence data. Pesole noted that much of the market's pessimism regarding U.S. growth stems from softer consumer figures.

Economists anticipate that the Conference Board's survey, to be released at 1700 GMT, will show a drop in consumer confidence from 98.3 to 93.5 in March. However, ING expects an even lower reading of 93.0. Pesole commented, “Even if the decline is slightly less pronounced than expected, markets may struggle to find much silver lining for the dollar.” The DXY dollar index recently saw a 0.1% increase, reaching 104.396.