Consumer Confidence holds steady in March

Wells Fargo Research Team Wells Fargo

Summary

Consumer confidence essentially held steady in March. Household pessimism around future income growth is building despite an improved view of the current jobs market. If continued, income concerns signal a potential challenge for coming spending.

Expectations about the future hold back Confidence in March

Consumers' confidence more-or-less held steady in March once accounting for downward revisions to February's data. The overall Consumer Confidence Index fell to 104.7 from 104.8 in February (previously estimated at 106.7) (chart). The downward revision was due almost entirely to revisions to households expectations. That is, the Expectations Index was revised lower to 76.3 in February from a previously reported 79.8. After accounting for these revisions, households perceptions of their present situation improved in March (to 151.0) while they became less optimistic about the future (73.8), which shook out to about a wash in terms of overall confidence (chart).

Download The Full Economic Indicator

Author

Wells Fargo Research Team

Wells Fargo

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.