CB Consumer Confidence jumps to 92.4 – now at pre-crisis

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The better than expected numbers return to the US: CB Consumer confidence rises to 92.4 points, the highest since the Great Recession. The Richmond Manufacturing Index climbs to 12 points, above 8 expected.

Currency markets were steady towards the publication, with EUR/USD clinging to 1.32, GBP/USD around 1.6590 and USD/JPY at about 103.8. The market’s reaction is muted.

The Conference Board Consumer Confidence figure for August was expected to slide to 89.1 from 90.9 seen in July. While the correlation between consumer confidence and actual spending (as seen in retail sales) is not often clear, the publication has an impact on markets.

Here is the preview: trading the CB consumer confidence with GBPUSD.

Earlier, durable goods orders jumped by no less than 22.6%, but the number was skewed by big orders from Boeing. Core durable orders dropped by 0.8%, worse than a rise of 0.5% expected, yet this was balanced by an upwards revision for June. All in all, “mixed” would best describe the orders.

The S&P Case Shiller House Price Index rose by 8.1% year over year, as expected. The monthly FHFA HPI rose by 0.4% in June, slightly above expectations.

So far this week, the dollar enjoys previous gains and continued the Fed rally.

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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 a 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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