FX
  • Consumer confidence in the US continued to weaken in June.
  • US Dollar Index clings to strong daily gains near mid-104.00s.

The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index dropped to 98.7 in June from 103.2 in May. This print came in weaker than Reuters’ estimate of 100.00.

Further details of the press release revealed that the Present Situation Index fell to 147.1 from 147.4 and the Expectations Index plunged to its lowest level since March 2013 at 66.4 from 73.7.

Additionally, the one-year consumer inflation rate expectations climbed to 8% from May’s revised print of 7.5%. 

Market reaction

The greenback continues to outperform its major rivals after this report and the US Dollar Index was last seen rising 0.5% on the day at 104.45.

Articles You May Like

GBPUSD Technical Analysis – The US Dollar rally might have run out of steam
Dollar Holds Strong Against Europeans, Awaits Fed Insights
80% of memecoins pumped after Binance listing in 2024
Infinex to list top 500 crypto assets, v2 coming early 2025
Disney doesn’t plan to change its TV networks portfolio anytime soon