US CB Consumer Confidence Index weakens in March

US CB Consumer Confidence Index eases to 104.7 in March.
The USD Index trades slightly on the defensive.

Pablo Piovano FXStreet

Consumer sentiment in the US retreated to three-month lows at 104.7 for the month of March according to the Conference Board. Following three consecutive months of improvements, the index came in short of expectations and receded to three-month lows in March.

From the press release, “The Present Situation Index—based on consumers’ assessment of current business and labour market conditions—increased to 151.0 in March from 147.6 in February. Meanwhile, the Expectations Index—based on consumers’ short-term outlook for income, business, and labour market conditions—fell to 73.8, down from 76.3 last month. An Expectations Index reading below 80 often signals a forthcoming recession.

Market reaction

The Greenback, in the meantime, keeps its bearish performance in the low-104.00s when gauged by the USD Index (DXY).

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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