CB Consumer Confidence Drops To 92.9; Dollar Rebounds From Session Lows

The Conference Board commented: “[…] consumers optimism about future income – which had held up quite strongly in the past few months – largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations.”

Today, traders also had a chance to take a look at the New Home Sales report for February. The report showed that New Home Sales increased by +1.8% month-over-month, compared to analyst consensus of +0.5%.

U.S. Dollar Index moved away from session lows as traders reacted to the disappointing CB Consumer Confidence report. Currently, U.S. Dollar Index is trying to settle above the 104.10 level.

Gold tested the $3035 level after the release of the report. Gold traders stay bullish amid geopolitical tensions and tariff uncertainty.

SP500 settled near the 5780 level as traders focused on Consumer Confidence data. Falling Consumer Confidence may force the Fed to be less hawkish, which is bullish for stocks.

For a look at all of today’s economic events, check out our economic calendar.