BREAKING: USD strengthens after downbeat Consumer Confidence data

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.”

Further details of the publication: 

• 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