US Consumer Confidence improves breaking a recent pattern of deteriorating fundamentals - Wells Fargo


The Consumer Confidence report (University of Michigan) rose in March to the highest level since October. Analysts at Wells Fargo point out it was a welcome break in a recent pattern of deteriorating fundamentals for the consumer in indicator reports.  They noted that confidence was stronger at lower incomes.

Key Quotes: 

“Consumer sentiment rose to 98.4, the highest since October before the government shutdown and stock-selloff spooked consumers. The forward-looking index of consumer expectations rose to 88.8, also the highest since October.”

“The press release noted that the improvement in March was “entirely due to households in the bottom two-thirds of the income distribution.” Indeed, confidence of households in the top third fell.”
 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD crashes to new 2020 lows amid ECB dovishness, coronavirus fears

EUR/USD is trading below 1.1050, at the lowest since early December. ECB President Christine Lagarde refrained from acknowledging the recent economic improvement. Fears of the spread of the coronavirus are weighing on markets.

EUR/USD News

GBP/USD pressured toward 1.31 amid risk-off mood

GBP/USD is trading around 1.31, off the highs. Coronavirus headlines are sending traders to the safety of the US dollar. Speculation about the next BOE move is rife.

GBP/USD News

Top 3 Price Prediction Bitcoin, Ethereum, XRP: Set for a dive before the next big bull market

The first initiative comes from WhatsApp. Users of Facebook’s popular instant messaging application will be able to exchange Ether among themselves and other tokens that function over the ERC20 protocol.

Read more

Crude Oil Futures: Downside looks unabated

Traders added around 8.3K contracts to their open interest positions on Wednesday, reversing two consecutive pullbacks. Volume, instead, prolonged the choppiness and shrunk  by around 115.3K contracts.

Read more

USD/JPY drops to fresh eight-day lows near 109.50

USD/JPY extends losses and trades close to an eight-day low near 109.50 in a relatively risk-off environment, with the media headlines full of the coronavirus as it spreads internationally. Bears can look to the golden ratio around mid-108s.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures