Richmond Fed Manufacturing Index unexpectedly slips in August
In August, the US Consumer Confidence Index fell to 89.4, a slight decline from the revised July figure of 90.2. The Conference Board's report indicated that consumer confidence had moderated for the second consecutive month. The Expectations Index dipped further into negative territory, while the Present Situation Index showed a moderate rise after declining in recent months.
Consumers expressed a mildly positive view of current business conditions. Dana M. Peterson, the Chief Economist at The Conference Board, noted that perceptions of the labor market had improved, reversing a three-month trend of moderate decline. The US Dollar experienced fluctuations near the 99.00 region, with investors closely monitoring Middle Eastern developments.
The heat map showed the US Dollar was the strongest against the Japanese Yen. Meanwhile, GBP/USD consolidated, and EUR/USD struggled to recover, trading below 1.1700. Gold and Bitcoin both showed significant movements, with Gold declining and Bitcoin reaching a three-month high. The US Treasury announced plans to double liquidity support buyback operations in certain sectors, effective from September 9.
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Also reported by 2 other outlets
- US CB Consumer Confidence Index eases to 89.4 in August fxstreet.com
- Consumer confidence slips in August as the expectations index sinks seekingalpha.com
