A number of reports have been released today. The Conference Board is the most watched and is expected to show a slight decrease compared to August. In addition to the CB data, investors are also keeping an eye on the Richmond Fed index for September and new home sales data for August. The report showed for the Richmond Fed index as a positive surprise while new home sales data was slightly below expectations.
CB data led to indications that US consumers are feeling less confident this month, especially about the future, due to forecasts that interest rates will remain high for a long period. US consumer confidence declined this month, particularly about future projections.
The Conference Board, a business research group, said that its consumer confidence index fell to 103 in September from 108.7 in August. Analysts expected a smaller decline, to a reading of 105.
This index measures Americans' assessment of the current state of the economy and their outlook for the next six months.
The USD fell after the data was announced. However, market reaction was minimal with EURUSD up around 0.05% in the first minute of trading while USDJPY slipped around 0.1%.
