US: CB Consumer Confidence Index jumps to 109.7 in March vs. 96.9 expected

CB Consumer Confidence Index jumped above 100 in March.
US Dollar Index clings to strong daily gains around 93.30.

Eren Sengezer FXStreet

Consumer confidence in the US improved sharply in March with the Conference Board's Consumer Confidence Index rising to 109.7 from 90.4 in February. This reading beat the market expectation of 96.9 by a wide margin.

Further details of the publication showed that the Present Situation Index jumped to 110 from 89.6 and the Consumer Expectations Index climbed to 109.7 from 90.4. Finally, the One-year Consumer Inflation Rate Expectations edged higher to 6.7% from 6.5%.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.4% on the day at 90.31.

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.

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