US: CB Consumer Confidence drops to 113.8 in August vs. 124 expected

• US CB Consumer Confidence Index came in lower than expected in August.
• US Dollar Index consolidates daily losses around 92.50.

Consumer confidence in the US weakened in August with the Conference Board’s Consumer Confidence Index declining to 113.8 from 125.1 (revised from 129.1) in July. This reading came in worse than Reuters’ estimate of 124.

Further details of the publication revealed that the Present Situation Index fell to 147.3 in August from July’s revised levels of 157.2.

Market reaction

This report received little to no reaction from investors. As of writing, the US Dollar Index, which tracks the USD’s performance against a basket of six major currencies, was down 0.2% on the day at 92.51.