US CB Consumer Confidence declines to 97.0 in April
Source Fxstreet
Apr 30, 2024 14:07
- CB Consumer Confidence Index declined sharply in April.
- US Dollar Index clings to daily gains near 106.00.
Consumer sentiment in the US weakened in April, with the Conference Board's Consumer Confidence Index dropping to 97.0, the lowest reading since July 2022, from 103.1 (revised from 104.7) in March.
"The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—declined to 142.9 in April from a downwardly revised 146.8 in March," the Conference Board said in its press release.
The Expectations Index dropped to 66.4 from 74.0, while the 12-month inflation expectation remained stable at 5.3%.
Market reaction
The US Dollar Index retreated from session highs after this data and was last seen rising 0.25% on the day at 105.88.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Related Articles
The Japanese Yen (JPY) trades flat for the week, posting a second day of losses against the US Dollar (USD) on Friday.
Bank of England (BoE) Chief Economist Huw Pill signaled to markets that the UK's central bank will be considering rate cuts over the next few meetings, provided there are no "big disturbances" in the economy.
China's Services Purchasing Managers' Index (PMI) eased to 52.5 in April, compared with the March print of 52.7, the latest data published by Caixin showed on Tuesday.
