Corporate foreign exchange news

Published by Mark Smith-HalvorsenTraders looking to gauge the strength of consumer confidence in the US should take a look at theatre sales on Broadway, claims Nicholas Colas, chief market strategist at BNY ConvergEx Group in New York.Speaking to Reuters, the strategist explained that the rising popularity of Broadway is often a strong indicator of underlying recovery in consumer confidence.After studying 2010 ticket sales, he explained that he was cautiously optimistic, as there has been an uptick in demand in recent weeks as the cold weather has eased off.Since the snowstorms which hit the east coast of the US in February eased, year-on-year ticket sales figures have moved back towards positive territory as more consumers have stumped up the $80 ticket price to see one of Broadway's leading performances.Forex risk management strategists may also benefit from planning their trades around the publication of the latest US consumer confidence data due out on Tuesday (March 30th).Forexfactory reports that analysts are expecting the index to rise more than four points to stand at 50.2.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site