The Conference Board commented: “Confidence retreated further in April, reaching its lowest level since July 2022 as consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income.”
U.S. Dollar Index settled near the 105.85 level after the release of CB Consumer Confidence report. The report may have a negative impact on U.S. dollar dynamics but traders will likely stay focused on the Fed Interest Rate Decision, which will be released tomorrow.
Gold is trying to settle below the $2300 level amid a broad sell-off in precious metals markets. Most likely, gold traders will ignore CB Consumer Confidence data and remain focused on worries about hawkish Fed.
SP500 settled near the 5110 level as traders reacted to CB Consumer Confidence report. It remains to be seen whether the weaker-than-expected report will provide support to stocks as Treasury yields are moving higher, suggesting that traders prepare for hawkish comments from Fed Chair Jerome Powell.
For a look at all of today’s economic events, check out our economic calendar.
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