CB Consumer Confidence Index Drops To 98.7 In June

Consumer confidence in the US continued to weaken in June. The US Dollar Index clings to strong daily gains near mid-104.00s.

The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index dropped to 98.7 in June from 103.2 in May. This print came in weaker than Reuters’ estimate of 100.00.

Further details of the press release indicated that the Present Situation Index fell to 147.1 from 147.4 and the Expectations Index plunged to its lowest level since March 2013 at 66.4 from 73.7.

Additionally, the one-year consumer inflation rate expectations climbed to 8% from May’s revised print of 7.5%.

The US dollar continues to outperform its major rival currencies after this report and the US Dollar Index was last seen rising 0.5% on the day at 104.45.