Consumer confidence in the US weakened sharply in November with the Conference Board’s Consumer Confidence Index dropping to 96.1 from 101.4 (revised from 100.9) in October.
Further details of the publication revealed that the Consumer Present Situation Index edged lower to 105.9 from 106.2 in October and the Consumer Expectations Index declined to 89.5 from 98.2. Finally, the 1-year Consumer Inflation Rate Expectations ticked higher to 5.7% from 5.6%.
Market reaction
The US Dollar Index (DXY) showed no immediate reaction to this data. As of writing, the DXY was down 0.12% on the day at 92.40.
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