US CB Consumer Confidence Index missed estimates in February

US CB Consumer Confidence Index eased to 106.7 in February.
US Dollar Index trades within a tight range near 103.80.

Pablo Piovano FXStreet

Consumer sentiment in the US retreated to three-month lows at 106.7 for the month of February according to the Conference Board. Following two consecutive months of improvement, the index came in short of expectations and receded to three-month lows in February.

In addition, the Present Situation Index dropped to 147.2 (from 154.9) and the Expectations Index deflated to 79.8 (from 81.5). Still around the latter, a reading below 80 is indicative of a recession.

Additionally, the 12-month inflation expectations retreated to 5.2%.

Market Reaction

There was no meaningful change in the USD Index (DXY), which kept gyrating around the 103.80 zone in the wake of the release.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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