US Consumer Confidence: Consumption has momentum going into Q2 - Wells Fargo


Data from the Conference Board released today showed that the Consumer Confidence rebounded in April. Analysts at Wells Fargo point out that personal consumption has momentum going into Q2, considering also yesterday’s income and spending report.  They highlighted that the employment outlook is improving.

Key Quotes: 

“At 129.2, the present level of consumer confidence is in-line with its 12-month average of 130.1 and essentially splits the difference between the euphoria in October when the index hit a 17-year high of 137.9 and the lows in January when it fell to 121.7.”

“Consumers regaining some lost confidence is the latest checkmark in the right column for the consumer outlook and offers scope for April retail sales to build on the gain in March.”

“In recent months, we’ve highlighted that the one-month change in the share of consumers expecting more jobs posted some of the biggest declines in 30 years, but this measure improved in April.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: traders set to position ahead of Fed

The EUR/USD pair moderated its advance on Friday, compliments to stronger-than-expected US data, finishing the week anyway with gains around 1.1070. Better-than-expected US data released Friday brought relief to USD bulls.

EUR/USD News

GBP/USD: Brexit optimism keeps bulls in the drivers’ seat

The GBP/USD pair has advanced for a second consecutive week, reaching Friday 1.2505, its highest since last July, and settling not far below this last. Fading odds for a hard-Brexit continue to underpin the Pound.

GBP/USD News

USD/JPY: further gains depending on risk-related sentiment

The USD/JPY pair settled above the 108.00 level for the first time since late July, closing substantially higher for a third consecutive week.  Demand for the safe-haven yen continued to be undermined.

USD/JPY News

Gold: Down for third straight week, on the defensive ahead of the Fed

Gold is set to end lower for the third straight week and will likely remain on the defensive in the run-up to Wednesday's Federal Open Market Committee (FOMC) meeting. A dovish surprise will likely put a strong bid under the yellow metal.

Gold News

The good, the bad and the extremely ugly crypto

XRP is in a borderline situation and with little room for doubt. Bitcoin demonstrates its power and positions itself as the emerging leader. Ethereum is in an intermediate situation, far from risk but also from opportunity.

Read more

Forex MAJORS

Cryptocurrencies

Signatures