Breaking: US CB Consumer Confidence Index slumps to 84.8 in August vs. 93 expected

Consumer confidence in the US continued to deteriorate in August with the Conference Board's Consumer Confidence Index dropping from 91.7 (revised from 92.6)in July to 84.8. This reading missed Reuters' estimate of 93 by a wide margin.

Further details of the publication revealed that the Consumer Expectations Index worsened to 85.2 from 88.9 and the Present Situation Index dropped to 84.2 from 95.9.

Market reaction

The US Dollar Index showed no initial reaction to the data and was last seen losing 0.22% on a daily basis at 93.08.

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