US: CB Consumer Confidence Index jumps to 135.7 in July from 121.5

Eren Sengezer FXStreet

The data published by the Conference Board (CB) today showed that the Consumer Confidence Index improved to 135.7 in July from 121.5 in June and came in better than the market expectation of 125, per Reuters. Moreover, the CB's Present Situation Index improved to 170.9 from 162.6 in the same period.

The strong sentiment data seem to be providing a boost to the Greenback, lifting the US Dollar Index to its highest level of the session at 98.16. As of writing, the DXY was a tad below that level, adding 0.1% on the day.

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.

EUR/USD flirts with weekly lows near 1.1770

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to challenge the area of weekly throughs near 1.1770 on Thursday. The pair’s decline comes in response to marked gains in the US Dollar amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.