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  • Consumer Confidence in the US weakened in July.
  • US Dollar Index pared early recovery gains to turn flat below 93.70.

The Conference Board’s Consumer Confidence Index edged lower from 98.3 in June (revised from 98.1) to 92.6 in July. This reading came in worse than the market expectation of 94.5.

Further details of the publication showed that the Consumer Expectations Index slumped to 91.5 from 106.1, the Present Situation Index improved to 94.2 from 86.7 and the Consumer Inflation Rate Expectations dropped to 6.1% from 6.6%.

Market reaction

The US Dollar Index edged slightly lower in the last minutes and turned flat on the day at 93.67. Meanwhile, the S&P 500 Index was down 0.27% at 3,230.