Conference Board’s Consumer Confidence stunner - Nomura

Ross J Burland FXStreet

Analysts at Nomura noted a key driver for the US markets overnight on the data front.

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Key Quotes:

"Conference Board’s consumer confidence index increased above expectations in March to 125.6 (Nomura: 115.0, Consensus: 114.0), its highest level since December 2000, from upwardly revised 116.1 in the previous month (previously reported as 114.8)."

"The Conference Board report suggests that consumer optimism improved further as consumer fundamentals remain healthy. The strong increase in the confidence index was driven by notable improvement in consumers’ assessment of both current and future conditions."

"The index of present situation jumped to 143.1 from 134.4. The expectations index also improved strongly to 113.8 from 103.9. The report also suggests that consumers’ assessment of job prospects also improved strongly. The labor differential index improved strongly to 12.2 from 7.0, as notably more respondents claimed jobs are “plentiful” while moderately fewer respondents claimed jobs are “hard to get” decreased moderately."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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