Home›Forex›Major Pairs›US consumer confidence slips in August to 89.4

US consumer confidence slips in August to 89.4

The Conference Board said expectations fell deeper into negative territory, while the Present Situation Index rose after a three month decline, helping keep the US dollar range-bound near 99.00 ahead of Jackson Hole.

Reported · Written up by our desk · Major Pairs

US consumer sentiment lost some momentum in August, with the Conference Board’s Consumer Confidence Index falling to 89.4 from July’s 90.2, which was revised from 90.8, according to FXStreet.

FXStreet also cited The Conference Board’s assessment that confidence moderated for a second consecutive month, as the Expectations Index slipped further into negative territory. It said the Present Situation Index rose moderately after declining in the prior three months, and perceptions of the current labor market improved after a few months of moderate decline.

Against major currencies, FXStreet said the US dollar was alternating gains and losses near the 99.00 area, as investors continued to weigh developments in the Middle East and looked ahead to Chair Warsh’s speech at the Jackson Hole Symposium on Friday.

FXStreet added that the dollar remained the strongest against the Japanese yen in its daily snapshot of percentage changes versus major currencies.

More like this

Sources