Summary:
- CB Consumer Confidence rises to 18-year high
- Print of 130.8 vs 126.2 exp and 125.4 prior
- USD rising across the board
The confidence of consumers in the US has reached its highest level since 2000 according to the conference board index. The reading for the month of February came in at 130.8, marking a large jump on the prior reading of 125.4 and was also well above the forecast for a reading of 125.4.
The Conference Board consumer sentiment index isn’t followed quite as closely as the Uni Mich equivalent but as you can see below they exhibit a fairly strong correlation.
The Conference Board consumer confidence index has extended its recent rise with today’s release coming in at a 18-year high. Source: XTB Macrobond
The USD has been enjoying a nice day of gains with the Buck rising against all of its peers (barring Bitcoin and Ethereum) The largest gains can be seen against the South African Rand (ZAR) whilst the SEK is the worst performer in G10 space.
The USD is rising today with only 2 of the cryptocurrencies stronger than the Buck. Source: xStation