US CB Consumer Confidence Index improves to 111.7 in October
- CB Consumer Confidence edged higher to 111.7 in November.
- US Dollar Index stays in daily range slightly below 107.00.
Consumer sentiment in the US improved in November, with the Conference Board's (CB) Consumer Confidence Index rising to 111.7 from 109.6 in October.
The Present Situation Index increased by 4.8 points to 140.9 in the same period, while the Expectations Index edged higher to 92.3.
Assessing the survey's findings, "consumer confidence continued to improve in November and reached the top of the range that has prevailed over the past two years,” said Dana M. Peterson, Chief Economist at The Conference Board. “November’s increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market."
Market reaction
The US Dollar Index showed no immediate reaction to these data and was last seen posting small daily gains at 106.90.
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.
