USD Holds Steady, US Consumer Confidence Shows Surprise Incr...| MENAFN.COM

Tuesday, 04 October 2022 01:09 GMT

USD Holds Steady, US Consumer Confidence Shows Surprise Increase

(MENAFN- DailyFX) US Dollar Analysis & News

  • US Consumer Confidence Shows a Surprise Increase
  • Eyes on Central Bank Decisions and Month-End

The latest US Conference Board consumer confidence posted a surprise increase to 113.8, above expectations looking for a drop to 108.3. Meanwhile, both the present situation index and expectations index regarding business and labour market conditions both rose in October.

On inflation, it was reported that while short-term inflation rose to a 13yr high, the impact on confidence had been muted. The proportion of consumers planning to purchase homes, automobiles, and major appliances all increased in October, providing a sign that consumer spending will continue to support economic growth through the final months of the year.

As is usually the case for consumer confidence data, little in the way of notable market moves had been seen across the FX space. Instead, while upcoming central bank meetings from the BoC and ECB will garner attention, focus will also lie on month-end rebalancing.

Trade Smarter - Sign up for the DailyFX Newsletter

Receive timely and compelling market commentary from the DailyFX team

Subscribe to Newsletter


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.