US dollar little changed after bump in consumer confidence

August 27, 2024
-FCHFX

August 27, 2024 at 03:26PM
US consumer confidence was better than expected at 103.3 compared to 100.7 expected. That was released at the same time as a softer Richmond Fed services index at -11 compared to +5 previously.

That led to little reaction in the FX as the dollar stayed softer on the day or slightly sagged. That was mirrored in the fixed income market as yields edged lower.

In the latest leg in markets, there is also some tepid equity buying and that could lead to further US dollar sales in a ‘risk on’ move. That said, much of the market is hunkering down ahead of NVDA earnings Wednesday after the close.

This article was written by Adam Button at www.forexlive.com.

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