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91.7 in October: US CB Consumer Confidence Index rises
- October: US CB Consumer Confidence Index Edges Higher.
- Above 102.00: US Dollar Index Trades at Two-Week Highs.
The Conference Board’s Consumer Confidence Index rose to 91.7 in October. The increase from September’s 84.2 (revised from 81.9) points to some strengthening in US consumer sentiment.
Fergus McCormick, Senior Economist, Global Indicators, The Conference Board, said: “Consumer confidence advanced in October, driven primarily by improved perceptions of current and expected business conditions… The recovery was in line with retail gasoline prices easing from September to October. Yet, despite the increase in October, consumer confidence remained on the long-term downward trend that’s persisted over the past few years. ”
US Dollar Extends Gains
With caution persisting ahead of Wednesday’s FOMC event, the US Dollar (USD) is nevertheless posting solid gains on Tuesday. Renewed upward momentum is carrying it further above the 102.00 threshold.
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