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.Get the 5 most predictable currency pairs