US Conference Board Consumer Confidence index decreased to 95.7 in July, from the previous month's 98.7 and below market expectations of 97.3.
“Consumer confidence fell for a third consecutive month in July,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The decrease was driven primarily by a decline in the Present Situation Index—a sign growth has slowed at the start of Q3. The Expectations Index held relatively steady, but remained well below a reading of 80, suggesting recession risks persist. Concerns about inflation—rising gas and food prices, in particular—continued to weigh on consumers.”
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- Present situation 141.3 vs 147.1 prior
- Expectations 65.3 vs 66.4 prior
- Jobs hard-to-get 12.3 vs 11.6 prior
Simultaneously, Richmond manufacturing index for July was released. The index unexpectedly rise to 0.0 from -11 in June, above analysts’ estimates of -13.0.
EURUSD is trading lower today and fresh data provided more fuel for bears. The main currency pair is approaching a short-term support zone in the 1.0115 area. Source: xStation5
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