US: Consumer Confidence Index comes in at 130.7 in February vs. 132 expected
- CB Consumer Confidence Index rose slightly to 130.7 in February.
- US Dollar Index edges lower toward 99.20 after data.
Consumer confidence in the US improved modestly in February with the Conference Board's Consumer Confidence Index rising to 130.7 from 130.4 in January. Nevertheless, this figure came in lower than the market expectation of 132.
"The Present Situation Index decreased from 173.9 to 165.1," the publication read. "However, the Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – increased from 101.4 last month to 107.8 this month."
USD reaction
With the initial market reaction, the greenback lost some strength against its rivals and the US Dollar Index edged lower toward the 99.20 mark. As of writing, the index was down 0.04% on the day at 99.24.
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.
