US CB Consumer Confidence declines to 97.0 in April
- CB Consumer Confidence Index declined sharply in April.
- US Dollar Index clings to daily gains near 106.00.
Consumer sentiment in the US weakened in April, with the Conference Board's Consumer Confidence Index dropping to 97.0, the lowest reading since July 2022, from 103.1 (revised from 104.7) in March.
"The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—declined to 142.9 in April from a downwardly revised 146.8 in March," the Conference Board said in its press release.
The Expectations Index dropped to 66.4 from 74.0, while the 12-month inflation expectation remained stable at 5.3%.
Market reaction
The US Dollar Index retreated from session highs after this data and was last seen rising 0.25% on the day at 105.88.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
