The expectations index, which shows the prospects for income, companies and labor market conditions in the short term, fell from 82.2 to 72.9. Numbers under 80 usually indicate a recession ahead.
The report showed that consumer confidence for all age groups fell, but the deepest was for consumers between 35 and 55 years old.
The Conference Board noted: “Average inflation expectations of 12 months rose from 5.2% to 6% in February. This increase probably reflected a mix of factors, including sticky inflation, but also the recent jump in the prices of important household staples such as eggs and the expected impact of rates. “
US Dollar Index Tested Session Lows when traders responded to the weaker than expected CB Consumer sentiment report. Currently, the US Dollar index is trying to settle under the level of 106.25.
Gold withdrew to the level of $ 2920 after the release of the report, while traders concentrated on broad sale in raw material markets.
SP500 remained under strong pressure and went to the 5930 level when traders concentrated on data on consumer sentiment.