US: CB Consumer Confidence drops to 109.5 in November versus expected 111.0

Joel Frank Independent Analyst

According to the latest Consumer Confidence survey conducted by the US Conference Board, US Consumer Confidence fell to 109.5 in November from 113.8 in October. That was a larger drop than the expected decline to 111.0.

The Present Situation index fell to 142.5 in November from October's downwardly revised reading of 145.5 from 147.4. Meanwhile, the US Consumer Expectations index fell to 87.6 in November from 89.0 in October.

The Jobs Plentiful versus Hard to Get ratio hit a record high at 46.90.

Market Reaction

FX markets have not seen any notable reaction to the latest CB consumer confidence data, as markets await comments from Fed Chair Jerome Powell and US Treasury Secretary Janet Yellen in a testimony before the Senate Committee on Banking, Housing, and Urban Affairs.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

EUR/USD looks vacillating above 1.1800

EUR/USD alternates gains with losses in the low-1.1800s on Wednesday in a context of modest gains in the Greenback. Meanwhile investors continue to assess the latest advanced inflation data in the euro area and the lower-than-expected weekly ADP figures on the US calendar. Later in the day, all the attention should be on the release of the US ISM Services.

GBP/USD keeps the bid bias above 1.3700

GBP/USD builds on Tuesday’s gains, advancing for the second day in a row and reclaiming the 1.3700 barrier and above on Wednesday. Furthermore, Cable’s uptick comes despite decent gains in the Greenback ahead of the BoE’s Super Thursday.

Gold extends the rebound above $5,000

Gold picks up further pace and retests the area above the key $5,000 mark per troy ounce on Wednesday. The precious metal’s extra advance comes despite the firmer US Dollar and rising US Treasury yields across the curve, while fresh geopolitical effervescence appears to support the metal’s improvement.

Crypto Today: Bitcoin, Ethereum, XRP tick up despite macro uncertainty, retail exodus

Bitcoin rises above $76,000 following an extended decline to $72,946 the previous day as Fed-related headlines keep investors on edge. Ethereum advances toward the $2,300 hurdle amid low retail interest, with futures Open Interest falling to $26.3 billion.

Should investors abandon AI as software stocks slide?

AI is not being abandoned by markets. It is being priced more carefully. Over the past few weeks, the underperformance of software and SaaS stocks has sparked a familiar question: is the AI trade breaking down? The answer is no.

Ripple stabilizes amid mixed signals as ETF inflows resume despite low retail activity

Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.