- Fed’s monthly publication shows smaller-than-expected credit growth.
- US Dollar Index stays calm near mid-97s after data.
The Federal Reserve’s latest Consumer Credit report showed that consumer credit increased by $14.6 billion on a monthly basis in June to fall short of the market expectation of $16 billion.
“Consumer credit increased at a seasonally adjusted annual rate of 5% during the second quarter,” the press release read.
Despite this uninspiring data, which could be seen as a sign of weaker consumer spending in the near-term, the US Dollar Index continues to move sideways a little above the 97.50 and is looking to end the day flat.
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