- The Conference Board Consumer Confidence Index fell modestly in October.
- The US Dollar Index remains in negative territory below 93.00.
Consumer confidence in the US weakened sharply in October as measured by the Conference Board Consumer Confidence Index, which fell from 101.3 (revised from 101.8) to 100.9 in September. This reading was worse than the Reuters estimate of 102.
More details from the release showed that the current consumer situation index rose to 104.6 from 98.9, the expectations index fell to 98.4 from 102.9. Finally, expectations for the one-year consumer inflation rate decreased to 5.6% from 5.7%.
Market reaction
This report did not have an impact on the financial market, nor on the dollar. A better-than-expected report for durable goods orders and home prices had previously been known. The DXY is in negative territory on Tuesday, trading below 93.00.
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Credits: Forex Street
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