US: CB Consumer Confidence Index drops to 98.7 in June vs. 100 expected

  • Consumer confidence in the US continued to weaken in June.
  • 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 revealed 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%. 

Market reaction

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

Articles You May Like

PERFECT Beginner FOREX Strategy
Chicken Soup for the Soul (CSSE) stock loses more than 12% on Friday after earnings fail to excite Redbox fans
EURUSD leak to the downside continues as stocks trade to new lows/yields higher
My Supply & Demand Trading Strategy for 2022 EXPOSED!
Norwegian Cruise Line shares fall as revenue, outlook lag pre-pandemic levels

Leave a Reply

Your email address will not be published.