The CB Consumer Confidence dropped from 94.5 to 88.7 points in November, much worse than 95.9 expected. Also the Richmond Manufacturing Index disappointed with 4 points instead of 17 expected.
The US dollar is down.
The Conference Board’s consumer confidence figure was expected to continue advancing on high ground, climbing up from 94.5 to 95.9 points in November. While the correlation between the various consumer confidence numbers and actual retail sales is not always that great, the event moves markets, especially as the holiday shopping season is just around the corner.
The Richmond Manufacturing Index was expected to slide from 20 to 17 in November.
Earlier, US GDP was surprisingly revised to the upside: to 3.9% from 3.5% originally reported. This was refreshingly good news.
The S&P Case Shiller Composite House Price Index rose by 4.9%, better than 4.7% predicted. The official HPI remained unchanged month over month.
And tomorrow, we have an important housing figure: see how to trade the new home sales with USDJPY.
