Consumer Confidence Jumps Higher in the US - Forex News by FX Leaders
Spring is coming with more positive surprises for the US economy

Consumer Confidence Jumps Higher in the US

Posted Tuesday, March 30, 2021 by
Skerdian Meta • 1 min read

The consumer confidence turned negative last year during the lock-downs in the US, as it did in most other places. But, it has been improving since then, unlike in Europe where the consumer and investor confidence remained negative until recently.

Today, the US consumer confidence report posted a major jump for this month, which shows that the economic situation in the US is getting even better. This should keep the USD bullish for the coming sessions I assume.

 

US March consumer confidence data from The Conference Board

  • March consumer confidence 109.7 points vs 96.9 expected
  • February consumer confidence was 91.3 points
  • Expectations 109.6 points vs 90.9 prior
  • Present situation 110.0 points vs 89.6 prior
  • Jobs hard-to-get 18.5 points vs 22.4 prior
This survey was at 132 in the month before the pandemic — still a long ways to go — but this is a big beat. Politics plays a big part in this survey so it’s not a great overall reading on the economy but the stimulus checks and the vaccine rollout are a big help. In some other countries, confidence surveys are at record highs and I think we could be headed there in the US as well. Sentiment is going to be rosy this summer.
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