US CB Consumer Confidence Index eases to 90.8 in July

US consumer sentiment loses some momentum in July, as the Conference Board’s Consumer Confidence Index recedes to 90.8 from June’s 92.2 (revised from 91.2).

“Consumer confidence moderated slightly in July, continuing a general downward sloping trajectory since late 2021… The Present Situation Index was less positive for a third consecutive month, while the Expectations Index remained in negative territory. Consumer appraisals of current business conditions and, to a lesser extent, perceptions of the current labor market both softened. Looking ahead, consumers anticipate little improvement in business conditions over the next six months, but expectations for the labor market were slightly less negative. Expectations for household incomes moderated but remained optimistic overall," said Dana M. Peterson, Chief Economist at The Conference Board.

Market reaction

The US Dollar (USD) now alternates gains with losses around the 101.50 region as investors continue to closely follow developments from the Middle East while assessing bets of further tightening by the Federal Reserve in the upcoming months.