CB Consumer Confidence falls to 95.2 – USD extends falls

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Consumption is a huge part of the US economy, and if consumers are not confident, who will be? The CB consumer confidence measure drops to 95.2 from a revised 1014 points. This is way lower than the forecasts.

The US dollar retreats a bit further.

Among the components, jobs hard to get rose from 25.5 to 26.4 points, expectations dropped from 96 to 87.6 and inflation from 5.2% to 4.8%.

The Conference Board’s consumer confidence measure for April was expected to rise to 102.6 from 101.3 points in March (before revisions).

The US dollar was falling throughout the day, losing to seemingly weaker currencies as well as stronger ones.

The Richmond Manufacturing Index was released at the same time and was predicted to rise from -8 to -2 for April. The actual number is -3 points.

Consumer confidence measures have a significant impact despite the lack of consistent correlation between them and actual spending as seen in the retail sales figures

Earlier, the Case Shiller HPI came out above expectations with price rises of 5% y/y, more than 4.7%. expected.

Tomorrow we have more important events: the release of US GDP and the Fed decision:

In our latest podcast we take a deep dive into the various euro-zone issues, a look at China and a new trading education initiative

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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