The Conference Board noted: “[…] Consumer’s optimism about the future income – which had stopped quite strongly in recent months – has largely disappeared, which suggests that worries about the economy and the labor market began to spread in the assessments of consumers about their personal situations. “
Nowadays, traders also had the opportunity to take a look at the new Home Sales report for February. The report showed that the new housing sale rose by +1.8% month-over-month, compared to analyst consensus of +0.5%.
US Dollar Index went away from lows when traders responded to the disappointing CB Consumer Confidence Report. Currently, US Dollar Index is trying to settle above the level of 104.10.
Gold tested the level of $ 3035 after the release of the report. Gold traders remain bullish in the midst of geopolitical tensions and tariff uncertainty.
SP500 settled near the 5780 level when traders concentrated on data on consumer confidence. Falling consumer confidence can force the FED to be less rawless, which is Bullish for shares.
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