The US consumer survey numbers were released from the Conference Board Inc and they look pretty good. The consumer confidence has been pretty high during the summer months, but the numbers for August showed that the US consumer is turning back to its real habitat, with the same old mindset.
The consumer sentiment for this month beats the expectations by nearly 3 points coming at 101.1. That´s a nice jump and the details are positive too, which make this piece of data an extra card in the hands of the hawks at the FED. The consumer feels better about the job market, the inflation expectations have increased and the surveyed bunch feel more positive about the future.
The increasing confidence comes from improved labor conditions. Me and many other financial analysts have been banging the drums for quite a while now about how well the US labour market has been doing in the last several years. Unemployment claims remain in a healthy level, the new job vacancies remains high and the unemployment is below 5%.
The USD found a few bids after the consumer survey was released.
Slowly but surely the wages are picking up as well, so the FED can´t complain about the employment sector. Too bad the Brits voted Brexit, because the UK employment sector was in the same or even in a better shape. Now sooner or later the negative effects of Brexit will catch up with the UK consumer.
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