- Economic sentiment in US continued to improve in February.
- US Dollar Index preserves its bullish momentum after the data.
The IBD/TIPP Economic Optimism Index published by Investor’s Business Daily (IBD) rose to 51.9 in February from 50.1 in January and beat the market expectation of 51.
“Americans are a little more optimistic about the outlook for the US economy as vaccinations pick up speed and Covid cases come off their peak,” the publication read.
On a negative note, “the IBD/TIPP Poll finds that 43% of households have at least one member who is out of work and looking for employment. Another 38% are concerned about job loss in the household,” the IBD noted.
Market reaction
The US Dollar Index extended its daily rally after this report and was last seen gaining 0.3% on a daily basis at 91.23.
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