Consumer confidence fell less than expected
Consumer confidence in U.S fell to 93 from 95.4, revised reading showed. Market consensus was placed at 92.5. Much of the drop in confidence was among lower-income households, the ones most affected by rising utility bills after colder weather the month before. At the same time fuel costs have steadied since early March, and employers are adding workers following the strongest labor-market performance since 1999.
“The January surge in confidence was partly due to falling gasoline prices and the small retreat since then was partly due to the unusually harsh winter,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “Importantly, most of the recent variation was among lower-income households, whose budgets are more sensitive to higher utility costs and disruptions in work hours.”
Data did not have any major impact on the markets. Euro is currently being traded around 1.0880 area, Sterling is at 1.49 handle while Aussie is at 0.78 handle.
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