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Main » 2019 » September » 25 » The US dollar fell after the release of consumer confidence data
08:52
The US dollar fell after the release of consumer confidence data

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US dollar index fell below important is psychological level of 98.00 after the publication of macroeconomic data on consumer confidence in the country this month, which led to the growth of the US economic slowdown risks.

Thus, according to published data, consumer confidence in the United States has decreased to 125.1, while the previous month index was 134.2. The decline was the highest in nine months, which was due to the slowdown of the US economy amid escalating trade conflict between the US and China. Experts predicted that the index will drop to 133.5.

 

 

In turn, the index of the current situation, based on the assessment of consumers' current business conditions and the labor market, fell to the level of 169.0, while in August it stood at 176.0. While the expectations index fell to 95.8 from 106.4 mark. This indicates that consumers expect deterioration in income, business and labor market conditions.

The experts noted that the published data are a signal that consumer spending - a leading pillar of the country's economy, can not be protected from the consequences of trade confrontation.

In turn, the pound showed good growth in tandem with the US currency. Thus, the pair rose to 1.2488, which is caused by the decision of the Supreme Court of the United Kingdom to recognize the actions of Boris Johnson's government to suspend the work of the parliament illegal. Thus, the hard Breksita risks are reduced.

 

WELTRADE analyst

 

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