U.S. consumer confidence is growing

• Consumer Confidence Index CB (May) USA, fact 134.1, forecast 130.1.

Consumer confidence in the United States unexpectedly rose more significantly than expected, which is contrary to the slowdown in the decline in retail sales and lower durable goods orders in the United States. The dynamics of consumer confidence in the United States remains restrainedly ascending and indicates an attempt to recover from a sharp decline at the beginning of the year.

Fig. 1. U.S. consumer confidence index CB (May) chart

 

On positive data, the US currency accelerated growth against a basket of competitors, thereby partially playing out a decline in retail sales and a decrease in durable goods orders in the United States. Also worth noting is the general restraint of the market, which may limit the strengthening of the dollar index at resistance levels: 97.90 and 98.00.

Fig. 2. The US dollar index chart. The current price is 97.80 (10-year US government bonds yield is the blue line)

Read also: “Internal correlation of the foreign exchange market:
Ghost of the past or instrument of trade of the future “

Hanzenko Anton

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