According to the latest Consumer Confidence survey conducted by the US Conference Board, US Consumer Confidence fell to 110.5 in February from 111.1 in January.
That was a smaller drop than the expected decline to 110.0. The Present Situation Index rose to 145.1 from 144.5 last month, while the Consumer Expectations Index fell a little to 87.5 from 88.8.
As for the market\u2019s reaction, the DXY has not reacted to the latest Consumer Confidence reading yet and continues to pivot either side of the 96.00 level.
It is worth noting that The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn.
Generally, a high reading is also positive for the USD, while a low reading is negative. Note: Because of restrictions from the Conference Board, our Economic Calendar does not provide this indicator’s figures.
Conference Board\u2019s index fell as financial prospects dimmed and concerns about prospects for inflation worsened in February.
US consumer confidence fell in February to the lowest since September as expectations for growth and financial prospects softened amid decades-high inflation.
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