US CB Consumer Confidence Index improves to 102.00 in May
- CB Consumer Confidence recovered above 100.00 in May.
- US Dollar Index edged higher to the 104.50 area after the data.
Consumer sentiment in the US improved in May, with the Conference Board's Consumer Confidence Index rising to 102.00 from 97.5 in April. The Expectations Index climbed to 74.6 from 68.8 in the same period.
Assessing the findings of the survey, "consumers’ assessment of current business conditions was slightly less positive than last month," noted Dana M. Peterson, Chief Economist at the Conference Board. "However, the strong labor market continued to bolster consumers’ overall assessment of the present situation. Views of current labor market conditions improved in May, as fewer respondents said jobs were hard to get, which outweighed a slight decline in the number who said jobs were plentiful."
Market reaction
The US Dollar Index recovered from session lows following this report and was last seen losing 0.07% on the day at 104.52.
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.
