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US: Consumer Confidence Index declines to 102.5 in October

October 25, 2022 by admin 0 Comments

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Consumer confidence in the US deteriorated in October.
US Dollar Index trades deep in negative territory below 111.00.

The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index declined to 102.5 in October from 107.8 in September (revised from 108). This reading came in worse than Reuters’ estimate of 105.9.

Further details of the publication revealed that the Consumer Present Situation Index fell to 138.9 from 150.2 and the Consumer Expectation Index dropped to 78.1 from 79.5.

Market reaction

The dollar selloff picked up steam with the initial reaction to the disappointing sentiment data and the US Dollar Index was last seen losing 1.1% on the day at 110.78.

This article was originally published by Fxstreet.com. Read the original article here.